Al Najaf PIC grants 6 new investment licenses with total of more than 64 million USD

Al Najaf PIC grants 6 new investment licenses with total of more than 64 million USD

Al Najaf PIC granted 6 new investment licenses for commercial, industrial and entertainment projects with a total value of 64.9 million USD
Rasool Al Kabi, media official in Najaf PIC said that they granted a license to build a commercial mall to Aurans Ghalib, investor, total value 286 thousand USD. This mall consists of two floors, ground floor has 9 commercial shops and the second one has a big hall. Execution period is 10 months. The second project is to build a complete fuel station with value of 1 million USD to Hazim Kamil Muslim, investor. The station has 10 tanks with capacity of 64 thousand litters to sell fuel, gasoline, kerosene and gasoil. It also has commercial shops and a green park. Execution period is 12 months.

He added that two investment licenses were granted. The first one for investor Hassan Noori Abdul Hassan to build a hotel with a total value of 800 thousand USD. The hotel consist of two floors, 156 rooms and 12 suites with other activities such as games hall, restaurant and other services facilities.
The second project is a tourism one to develop Zamzam Tourism Complex, estimated cost is 27.230.000 USD. 151 additional rooms will be built, 4 of them for individuals with special needs, rebuilding the existing services facility, establishing underground garage, increasing the number of elevators, services office, communication, and internet in addition to importing modern vehicles for visitors and delegations. Execution period is 23 months.
He continued saying: an investment license was granted to establish an entertaining park that consists of shops, children’s’ games, green fields and water circulations. Execution period is (141) days.
Another license was granted to Taj Al Zumurud company to establish a plant for producing and assembling housing units. The plant consists of warehouses, concrete station, assembling equipments, electro mechanic-extensions, panel casting, steel reinforcement and treatment. Execution period is 6 months. Total number of granted licenses is 103 in all sectors. Applications for investment licenses is more than 500.