Prime Minister Masrour Barzani inaugurated the largest and most advanced steel factory in Iraq and the Kurdistan Region, a flagship project of the Kurdistan Regional Government’s ambitious economic reform agenda.
At the inaugural ceremony, the Prime Minister affirmed the industrial project is one of many strategic investments the ninth Cabinet is making to diversify and strengthen the Kurdistan Region’s economy.
The Med Steel factory costed $100 million USD to build and will produce high-grade metal and steel, in line with international standards. The 617,500 sq.m. factory has an annual production capacity of 350,000 tons of steel and is estimated to create over local 1,000 jobs. The factory will also recycle metal scraps and steel, contributing to a greener economy.
Prime Minister Barzani emphasised that the ninth Cabinet’s vision for the Kurdistan Region involves sustainable growth in all sectors of the economy, and requires a shared commitment to the development of the Kurdistan Region.