Jordan-based International Venture Investment Holding (IVI Holding) has signed an Engineering, Procurement, and Construction (EPC) contract with China’s Sinoma Overseas Development to build a new cement plant in Al-Muthanna Province, Iraq.
The planned facility will have a clinker production capacity of 6,000 tonnes per day (TPD) and is valued at over $240 million, according to an official statement from IVI. The project is expected to help close the local cement supply gap and create significant employment opportunities in the region.
The agreement was signed by Mr. Hussein Shamara, Chairman of IVI Holding, and Mr. Linhe Zhu, Chairman of Sinoma Overseas, in the presence of Mr. Rami Harajli, Chief Investment Officer of IVI Holding, and Mr. Liu Qudong, Assistant to the President of Sinoma Overseas.
Source: IVI Holding
