American company to set up residential compound in Basra

BASRA / IraqiNews.com: The cornerstone was laid to establish a residential compound in Basra, chairman of the Basra Investment Commission said on Thursday. “The project, which will be implemented by an American company, includes the establishment of 3,000 apartments with all facilities,” Haidar Ali Fadel told IraqiNews.com news agency. “The project will cost around $220 million,” he added, noting that the compound will be established near the sports city in western Basra. Basra is 590 km south of Baghdad. SH (P)/SR 2