Iraq Launches $2bn Food Industry Projects in Karbala
Prime Minister Mohammed Shia Al-Sudani has inaugurated five major food industry projects worth $2 billion [IQD 2.6 trillion] in Karbala, operated by Etihad Food Industries. The initiatives focus on meat production, dairy, and fish farming.
Al-Sudani praised Etihad as a key private sector partner supporting local market needs and highlighted the importance of a strong, financially and technically capable private sector for national development. He described investment within Iraq as a qualitative and patriotic initiative and emphasised the need for a supportive investment climate and local government facilitation.
Karbala is evolving into a global city attracting millions of visitors, requiring expanded industrial zones and projects that leverage local economic strengths. The Prime Minister stressed the role of modern technology in driving success and the government's commitment to supporting local food production for greater safety and self-sufficiency.
The projects include:
A dairy factory with a daily capacity of 3,000 tonnes, among the largest globally, equipped with European production lines.
A meat production facility with five slaughterhouses capable of processing 1,500 cattle daily.
A dairy cattle farm housing 195,000 cows producing 4 million litres of milk daily.
A beef cattle farm with an annual capacity of over 100,000 calves.
A fish farming project producing 300 tonnes of fresh fish daily.
(Source: Prime Minister's Office)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
11 hours ago
- Shafaq News
Trump, Putin land in Alaska for high-stakes summit
Shafaq News – Washington / Kyiv (Updated at 22:03) US President Donald Trump and Russian President Vladimir Putin arrived, on Friday, at Joint Base Elmendorf-Richardson in Anchorage, Alaska, for the high-stakes summit. The White House confirmed that what was initially planned as a one-on-one meeting will now include advisers from both sides. Press Secretary Karoline Leavitt said Trump will be joined by Secretary of State Marco Rubio and Special Envoy Steve Witkoff for the bilateral talks, followed by a working lunch attended by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Defense Secretary Pete Hegseth, and Chief of Staff Susie Wiles. Earlier today, Trump warned that he would walk out of the summit if it failed to achieve tangible results. Speaking to Fox News, he said, 'I think it's going to work out very well, and if it doesn't, I'm going to head back home real fast.' Later aboard Air Force One, Trump added, 'I want to see a ceasefire rapidly… I'm not going to be happy if it's not today. I want the killing to stop.' He stressed that his goal is to 'save lives' but ruled out negotiating on Ukraine's behalf or offering US security guarantees, warning of 'punishing' consequences for Russia if the war continues. In Kyiv, President Volodymyr Zelenskyy voiced hope that the talks could pave the way for a US–Russia–Ukraine format, while acknowledging 'low expectations' due to ongoing Russian strikes. 'Ukraine is ready to work as productively as possible to end the war,' he said, urging a 'strong American position' and asserting that 'the Russians respect strength — strength alone.' According to CNN, Alaska was chosen after Russia rejected European venues because of the ICC arrest warrant for Putin. The White House dismissed his proposal of the UAE, leaving Hungary and US soil as options. Washington was reportedly surprised when Moscow accepted the US location. To facilitate the summit, the US Treasury temporarily lifted certain sanctions until August 20, allowing Putin and sanctioned aides to enter the country.
Shafaq News
20 hours ago
- Shafaq News
Investors await Trump-Putin meeting and key US data as stocks consolidate gains
Shafaq News - London Global stocks traded near record highs on Friday as investors awaited key talks between Donald Trump and Vladimir Putin over Ukraine in Alaska and for U.S. retail data that may give clues on the health of the world's biggest economy. The MSCI All Country World Index (.MIWD00000PUS), consolidated recent gains as European stocks edged higher in early trading (.STOXX). The index was last up 0.2% at 953.4, just shy of the record level of 954.21 set on Wednesday. Wall Street futures were also up slightly around 0.1-0.2%. , The White House has said the Trump-Putin meeting will take place at 11 a.m. Alaska time (1900 GMT), with the U.S. president's hopes of a ceasefire agreement on Ukraine uncertain. Trump has said a second summit involving Ukrainian President Volodymyr Zelenskiy could follow if the talks go well. "There's still a small degree of risk premium in European markets because of the war. Any type of resolution will ultimately pare that back," said Shaniel Ramjee, co-head of multi-asset at Pictet Asset Management, adding that oil and other commodity prices could also react. "But I think that the market has learnt not to expect too much from these negotiations. Ultimately, Zelenskiy and the Europeans are not invited. They will need to be involved in any final negotiation." Investors are also training their sights on U.S. retail data due later, after an unexpected spike in producer price data on Thursday renewed inflation concerns and pared market expectations for Federal Reserve rate cuts this year. "What it did was to get rid of all the chat about a 50 basis point cut (in September)," said Mike Houlahan, director at Electus Financial Ltd in Auckland. The 10-year U.S. Treasury yield was flat at 4.287%, after the previous day's 5 basis point rise in the aftermath of the PPI data. The dollar index , which tracks the greenback against a basket of six major currencies, was last trading down 0.2% at 97.965. Japanese GDP data released on Friday showed the economy expanding by an annualised 1.0% in the April-June quarter, beating analyst estimates. The dollar weakened 0.4% against the yen to 147.16 . In commodities markets, Brent crude was down 0.7% at $63.52 per barrel. Gold edged up 0.2% to $3,342 per ounce. Cryptocurrency markets stabilised after bitcoin touched a record $124,480.82 on Thursday. The digital currency was last up 0.9%.
Iraqi News
21 hours ago
- Iraqi News
Iraq pushes ahead with Baghdad Airport redevelopment
Baghdad ( Prime Minister Mohammed Shia' Al-Sudani has met with representatives of a six-company foreign consortium bidding to redevelop Baghdad International Airport under a public–private partnership. The International Finance Corporation (IFC), acting as lead advisor, is overseeing the project, which will be fully financed by the winning bidder. Plans include new passenger terminals for nine million travelers annually, scalable to 15 million, along with upgraded runways, safety systems, and internal transport. The Iraqi government will retain control over customs, air traffic, and security, while the private operator manages terminals, cargo, and infrastructure, sharing revenues with the state. The project forms part of Iraq's broader drive to modernize its logistics and transport network.
