Iraq has granted investment licenses for more than one million new residential units, alongside other infrastructure initiatives, as part of a broader push to address housing shortages and boost economic development. Iraqi Prime Minister Mohammed Shia Al-Sudani launched several major infrastructure and industrial projects, underscoring his administration’s dedication to fostering economic growth, expanding housing, and strengthening the industrial sector.
The projects were introduced during a video conference, with government officials participating from various locations. In his address, Al-Sudani detailed a long-term plan to enhance Iraq’s economic resilience by tackling critical infrastructure and housing needs. He highlighted the country’s housing deficit, estimated at 3 to 3.5 million units, and revealed that investment licenses for over one million new homes have been approved across multiple provinces.
Recognizing Iraq’s heavy reliance on imported construction materials, Al-Sudani emphasized the importance of investing in local manufacturing capabilities, such as cement and steel plants, to support urban development and achieve industrial self-sufficiency.
As part of its economic strategy, the government launched three flagship projects:
- The Al-Dhawari Iron and Steel Factory in Saladin’s Suleiman Bek (Salman Bak) district,
- The Hydrogen Pharmaceutical Plant in Karbala, specializing in cancer treatment medications,
- The Al-Fatha Bridge over the Tigris River, connecting Saladin and Kirkuk provinces.
According to the Prime Minister’s Media Office, these initiatives aim to bolster Iraq’s industrial sector, improve healthcare services, and modernize transportation networks, contributing to the nation’s economic independence.
Restoring a Key Transport Link
The reopening of the Al-Fatha Bridge represents a major step in Iraq’s infrastructure recovery efforts. Originally built in 1979 by Japan’s Sumitomo Construction and designed by the UK’s Mott, Hay & Anderson, the 540-meter bridge is a vital route for transporting goods, agricultural products, and oil between provinces.
Over the years, the bridge sustained significant damage—from the Gulf War in 1991, subsequent conflicts in 2003, and an 85% destruction in 2015 due to terrorist attacks. Reconstruction began in December 2019 but faced delays due to technical adjustments for oil and gas pipelines. Structural assessments in 2024 revealed severe damage to a critical support pillar, prompting extensive repairs. The project is expected to be fully completed by November 2024.
Saladin Governor Badr Al-Fahl, present at the reopening, praised the project as a “major achievement” and stressed the need for ongoing maintenance to ensure its durability. He highlighted that restoring this transport link would enhance trade, improve mobility, and stimulate regional economic growth.
Al-Sudani reaffirmed that these projects are integral to the government’s comprehensive strategy to drive economic growth by strengthening domestic industries, expanding affordable housing, and modernizing transportation networks. “The government remains committed to further investments in infrastructure, industry, and energy sectors, with additional projects set to be unveiled in the coming months,” stated the Prime Minister’s Media Office.
(Source: Shafaq News)
