Denmark’s FLSmidth has signed a contract worth more than $200 million with Iraq Cement Co, in a clear show that business opportunities are arising from the increasing infrastructure investments in the region.
The mining and cement industrial giant will supply a total of 6,000 tons of cement per day to the production line for the Al Muthana region.
“By signing the contract, Iraq Cement Co. is making the first step in raising financing for the project, which is an important milestone in their pursuit to realize the project,” said Per Mejnert Kristensen, Group Executive Vice President of the Cement Division.
“FLSmidth has a long history in Iraq and the Middle East and is maintaining its leading role in serving the rapidly expanding cement market. The growing economy and increasing infrastructure investments in the region continue to offer business opportunities.”
The contract is a full EPC order, comprising of engineering, all FLSmidth equipment supplies, erection and construction. It will also include training and commissioning once completed.
The plant will feature state-of-the-art equipment, including the latest technology to ensure an environmentally friendly and energy efficient production process, the Danish company said in a statement.
It also clarified that unless all conditions were met and that the contract became effective, it would not be part of the order intake. A separate company announcement would be made when that happens, it said.