Turkish company to build housing compound in Karbala

KARBALA / IraqiNews.com: A Turkish company has received an investment permit to build a housing compound in Karbala province at an estimated cost of $248 million U.S. dollars. “The compound will include 5,000 housing units,” the media director of Karbala’s Investment Commission, Raed al-Assly, told IraqiNews.com news agency. The company has presented its designs to the commission, which gave the go-ahead for the launch of the project, he noted. A memorandum of understanding (MoU) was signed between the commission and the Turkish company in September 2008, the official added. The holy Shiite city of Karbala lies 110 km southwest of the Iraqi capital Baghdad. SS (P) 1