Ibn Majid Company to execute $89 million ship yard

BASRA / IraqiNews.com: A m edia source from the Iraqi Ministry of Industry and Minerals on Monday said that Ibn Majid state-owned General Company is executing a ship yard in Basra, at a total cost of more than $89 million. “The ship yard’s design capacity is 5,000 tons,” the source told IraqiNews.com. “The project’s execution period is around three years,” he said. The oil-rich city of Basra lies 590 km south of Baghdad. MH (P)/SR 1