logo
New Flour Factory covers Half of Iraq's Domestic Demand

New Flour Factory covers Half of Iraq's Domestic Demand

Iraq Business8 hours ago

By John Lee.
Prime Minister Mohammed Shia Al-Sudani has inaugurated Etihad Group's new flour mill in Al-Madhatiya [Medhatiah, Madhatiya], in Babil Governorate, which produces one million tonnes of premium-grade flour annually.
The project was initiated 11 months ago when the Prime Minister laid the foundation stone.
He toured the facility and praised the variety and quality of products, noting that the plant now covers approximately 50% of Iraq's domestic demand, previously met by over $750 million in annual flour imports. According to the company's website, the six production lines were sourced from Bühler of Switzerland.
Al-Sudani reiterated the government's commitment to reviving national industry, supporting the private sector, and ensuring food security despite global and regional challenges. He assured citizens that local production, alongside imports, would help stabilise food prices.
Declaring 2025 the " Year of Iraqi Industry, " he highlighted ongoing efforts to inaugurate and launch new manufacturing facilities across the country. Babil currently hosts over 2,000 operational factories across various sectors.
On his visit to the province, the Prime Minister also launched construction of a $300-million electrical equipment factory, which is also being developed by Etihad Group.
(Sources: Prime Minister's Office; Etihad)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Construction starts at $300m Electrical Factory in Babil
Construction starts at $300m Electrical Factory in Babil

Iraq Business

time8 hours ago

  • Iraq Business

Construction starts at $300m Electrical Factory in Babil

By John Lee. Iraq's Prime Minister, Mohammed Shia Al-Sudani, officially launched the construction of the Diwan Factory Project in Babil Governorate on Wednesday. The strategic initiative by local company Etihad Group will produce electrical transformers, cables, and smart meters. The project, with a total budget of $300 million [approx. 393 billion IQD], is being built to the latest technical standards and is part of the government's broader strategy to localise electrical industries and reduce dependence on imports. Al-Sudani described the factory as a key step toward enhancing Iraq's energy security and supporting advanced smart technologies. He reaffirmed the government's commitment to supporting the industrial sector and enabling national manufacturing across all areas. The Prime Minister praised the efforts of Iraqi professionals driving transformative progress and emphasised the role of this project in laying the foundation for renewable energy initiatives and strengthening the national electricity supply chain. On his visit to the province, the Prime Minister also officially opened a major new flour factory, which is also being developed by Etihad Group. (Source: Prime Minister's Office)

New Flour Factory covers Half of Iraq's Domestic Demand
New Flour Factory covers Half of Iraq's Domestic Demand

Iraq Business

time8 hours ago

  • Iraq Business

New Flour Factory covers Half of Iraq's Domestic Demand

By John Lee. Prime Minister Mohammed Shia Al-Sudani has inaugurated Etihad Group's new flour mill in Al-Madhatiya [Medhatiah, Madhatiya], in Babil Governorate, which produces one million tonnes of premium-grade flour annually. The project was initiated 11 months ago when the Prime Minister laid the foundation stone. He toured the facility and praised the variety and quality of products, noting that the plant now covers approximately 50% of Iraq's domestic demand, previously met by over $750 million in annual flour imports. According to the company's website, the six production lines were sourced from Bühler of Switzerland. Al-Sudani reiterated the government's commitment to reviving national industry, supporting the private sector, and ensuring food security despite global and regional challenges. He assured citizens that local production, alongside imports, would help stabilise food prices. Declaring 2025 the " Year of Iraqi Industry, " he highlighted ongoing efforts to inaugurate and launch new manufacturing facilities across the country. Babil currently hosts over 2,000 operational factories across various sectors. On his visit to the province, the Prime Minister also launched construction of a $300-million electrical equipment factory, which is also being developed by Etihad Group. (Sources: Prime Minister's Office; Etihad)

CBI holds Workshop on Money Laundering
CBI holds Workshop on Money Laundering

Iraq Business

time8 hours ago

  • Iraq Business

CBI holds Workshop on Money Laundering

By John Lee. The Erbil branch of the Central Bank of Iraq (CBI) held a training workshop on " National and Sectoral Risk Assessment Procedures " in collaboration with the CBI's Banking Studies Centre and the Office of the Compliance Monitor. The event brought together representatives from private banks, non-banking financial institutions, and electronic payment companies operating in the Kurdistan Region. Key topics included Anti-Money Laundering and Counter-Terrorism Financing Law No. 39 of 2015, Financial Action Task Force (FATF) recommendations, and the national risk assessment of money laundering and terrorism financing based on international standards. The workshop emphasised practical applications, operational risk assessment, and real-world case studies aimed at enhancing participants' analytical capabilities. Lecturers highlighted the importance of updated compliance policies and effective inter-unit cooperation to foster a resilient banking environment aligned with global standards and the CBI's strategic vision. The workshop is part of the Banking Studies Centre's and Compliance Office's joint effort to develop a skilled generation of banking professionals capable of navigating modern regulatory challenges and embedding a culture of compliance as a cornerstone of sound banking governance. (Source: Central Bank of Iraq)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store