BAGHDAD, March 9 (Xinhua) -- Iraqi Prime Minister Mohammed Shia' al-Sudani reopened three key plants in Basra, southern Iraq, on Saturday, following years of closure since the U.S.-led invasion.
In a statement, al-Sudani's office announced the reopening of a rolling mill plant, part of the State Company for Iron and Steel, which has been dormant since 2003. The plant boasts an annual production capacity of 500,000 tons.
"Operating this factory will enable Iraq to reduce the import of iron, preserve foreign currency, and provide a national product and new job opportunities," the statement quoted al-Sudani as saying.
Additionally, al-Sudani's media office stated in a separate statement the reopening of a urea fertilizer plant with a daily production capacity of 1,000 tons and a DAP fertilizer plant with an annual capacity of 500,000 tons, both part of the Southern State Company for Fertilizers.
These plants, closed for years, were reopened following contracts with two foreign companies.
Emphasizing Basra's pivotal role, al-Sudani stated that the province has evolved beyond being just Iraq's port and oil hub to becoming a key industrial center, rightfully earning the title of Iraq's economic capital, the statement said.
The U.S.-led invasion of Iraq in 2003 led to the closure of many Iraqi factories due to chaos, tensions, and an unstable security situation. However, in recent years, the government has started to reopen some of these factories to lessen the economy's dependence on crude oil exports, which make up over 90 percent of Iraq's revenues.
