$6.1B boost: Iraq signs 64 partnership contracts for industry

Shafaq News – Baghdad

Iraq’s Industrial Week kicked off Wednesday at Baghdad International Fair, bringing together local and foreign companies from both the public and private sectors.

At the opening ceremony, Industry and Minerals Minister Khaled Battal highlighted that the government has completed more than 86% of its industrial program, and laid the groundwork for 27 new factories.

He also pointed out that the ministry signed 64 partnership contracts worth 9 trillion dinars ($6.1 billion) with local and foreign investors in strategic industries, including fertilizers, phosphates, iron, and steel. Talks are ongoing for an additional 33 contracts.

Noting that the week-long fair will continue through October 7, Battal described it as an economic and social platform that connects industrialists with policymakers, ''helping obstacles removal to industrial projects.”

“Key challenges facing national industry include shortages of electricity and gas, border crossing issues, and aging factories,” the minister underlined, adding that Iraq has achieved self-sufficiency in cement, producing over 37 million tons in 2024.

Production has also increased for chlorine used in water treatment, electrical transformers, and other industrial goods.

Meanwhile, the General Company for Iron and Steel displayed its products at the fair. Marketing Director Mohammad Subih emphasized that Iraqi rebar production matches European standards, highlighting that the ISO-certified plant produces up to 600,000 tons annually, with plans to export to neighboring countries.