Latest news with #IndustrialCoordinationCouncil
Zawya
9 hours ago
- Business
- Zawya
Iraq reviews Tsingshan's investment proposals in gas, sulphur and iron ore projects
Iraq's Industrial Coordination Council, chaired by Prime Minister Mohammed S. Al-Sudani, has reviewed investment proposals submitted by China's Tsingshan Holding Group covering gas, sulphur, and iron ore projects, according to a statement issued by the Prime Minister's Office. It said the Council discussed the privately-owned Chinese company's interest in operating the dry gas sector as part of the Basra Industrial City project. Additional proposals included investing in sulphur extraction at the Al-Lazka-2 field and the development of iron ore resources. Following the review, the Council directed the Ministry of Oil to coordinate and evaluate the proposals. (Writing by Majda Muhsen; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Iraq Business
12 hours ago
- Business
- Iraq Business
Chinese Firm Eyes Iraqi Commodity Resources
By John Lee. Prime Minister Mohammed Shia Al-Sudani chaired a meeting of the Industrial Coordination Council on Monday, in the presence of Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdulghani Al-Sawad, along with several ministers, advisors, business leaders, and representatives of local and foreign companies partnering with the private sector. The council reviewed the current state of Iraq's industrial sector, its key needs, and agenda items, issuing decisions and guidance accordingly. Among the matters discussed was a proposal from Chinese firm Tsingshan Holding Group, which expressed interest in dry gas operations at the Basra Industrial City Project, as well as in a sulphur investment project at the "Al-Lazzaka 2" field [Al-Lazakah, Allizaqa] field [in Nineveh Governorate], and in iron ore extraction. Coordination with the Ministry of Oil on these proposals was approved. The Council also considered potential amendments to Cabinet Decision No. 24413 of 2024 concerning preliminary approvals for the construction of industrial facilities and their entitlement to petroleum products from authorised distribution outlets. Additionally, the Council referred the matter of reducing the price of liquefied gas supplied to industrial projects to the Ministerial Council for the Economy. It also instructed government service-providing entities to create dedicated digital portals for industrial firms operating on unregistered sites, in order to streamline service access. (Source: Ministry of Oil) Tags: Allizaqa, Basra Industrial City, Basra Iron and Steel City, cg, China, featured, iron mining, Jabal Al-Akhdar [Green Mountain] Industrial City, Nineveh, sulfur, sulphur, Tsingshan, WW
Iraqi News
13-04-2025
- Business
- Iraqi News
The Industrial Coordination Council Makes Several Decisions to Develop National Industry
Baghdad-INA Prime Minister Mohammed Shia al-Sudani chaired a meeting of the Industrial Coordination Council today, Sunday, during which mechanisms for developing national industry were discussed and voted on. The Prime Minister's Media Office said in a statement received by the Iraqi News Agency (INA): that "Prime Minister Mohammed Shia al-Sudani chaired a meeting of the Industrial Coordination Council today, Sunday, during which mechanisms for developing national industry were discussed, in addition to following up on the implementation of the decisions and directives issued at the previous meeting." According to the statement, the Prime Minister directed the relevant authorities in the federal government and Kurdistan Regional Government to hold meetings to discuss unifying procedures and present recommendations to resolve problems and obstacles in order to support joint industrial projects. As part of the government's environmental protection efforts, the meeting approved a plan by the Ministry of Oil to supply liquefied gas to brick factories, replacing the use of fuel oil, in accordance with Cabinet Decision No. 24547 of 2024 on this matter. The meeting also approved a decision requiring all governorates to allocate and divide 1,000 dunams of land for industrial projects nominated by the General Directorate of Industrial Development—either as a single plot or subdivided—within 90 days. In line with the government's import-export control policies, the meeting approved the registration of all imported products and their trademarks with the relevant Iraqi authorities to ensure compliance with approved standards, curb counterfeit or non-compliant goods, and strengthen oversight of imported commodities in support of the national economy. In this regard, the meeting also assigned the Central Organization for Standardization and Quality Control and the Directorate of Organized Crime to monitor Iraqi products, track cases of industrial fraud or manipulation of specifications, and prevent the marketing of non-compliant and smuggled goods. Additionally, the meeting approved a mechanism to regulate the export of oxidized asphalt products and emphasized that draft agreements with other countries must not include tax or customs exemptions that could harm local industry. To support the national electricity system, the meeting approved a mechanism to connect private sector industrial solar energy projects to the national power grid. This includes offsetting surplus solar-generated power against industrial consumption through a transparent net-metering system. The meeting also voted to approve the inclusion of the Advisor for Industry and Private Sector Development in the Economic Ministerial Council, ban the export of paper and cardboard waste, and extend infrastructure services including water, sewerage, and paving to the Awerij Industrial Zone.
Iraqi News
16-02-2025
- Business
- Iraqi News
The Industrial Coordination Council meeting: Several decisions issued
PM Mohammed S. Al-Sudani chaired a meeting of the Industrial Coordination Council today, Sunday, where the state of national industry and its key requirements were reviewed. He directed that the council convene regularly every month to address all obstacles facing industrialists, according to a statement by the PM Media Office - received by the Iraqi News Agency - INA. The meeting resulted in several important decisions, including the acceleration of operations for base oil units in the southern and northern refineries to enhance the supply of essential industrial sector needs. It was also decided to increase the production of Benzyl by inviting investors to establish local production projects. As part of the government's strategy to localize industries in Iraq, the council approved the localization of precious metal industries, including gold and jewelry, as well as cosmetic products. Directives were issued to facilitate the establishment of private manufacturing facilities for these products. Additionally, measures were established to regulate gold exports by setting limits on processed quantities, requiring submission of documentation to the Central Bank to ensure the value of exported gold, and mandating the return of processed quantities under the bank's supervision. To support factory operations, a partial exemption was approved for government and essential industrial facilities, allowing them to receive electricity supply outside peak demand periods. The council also discussed submitting a plan to the Ministry of Electricity to separate power lines for industrial zones from residential areas to ensure continuous power supply to industrial areas within the current year. Regarding industrial sector regulations, it was decided that all ministries and non-ministerial entities dealing with the private industrial sector must coordinate exclusively through the General Directorate of Industrial Development under the Ministry of Industry and Minerals. No entity may suspend or halt any industrial project without coordinating with the said directorate, which is the official sectoral authority responsible for regulating private industrial activity. Additionally, it was decided that rental fees for land allocated for industrial projects would not be increased, by Economic Affairs Committee Decision No. 244 of 2011 and Cabinet Decision No. 24413 of 2024. In line with government efforts to reduce pollution and protect the environment, the Ministry of Oil was instructed to develop a plan to provide liquefied petroleum gas (LPG) for use in brick factories across Iraq, as an alternative to the currently used fuel oil, which is a major pollutant. The ministry was also tasked with reviewing LPG pricing to encourage factory owners to transition to its use. A decision was also made to exempt raw materials imported by domestic manufacturers—based on verified needs reports issued by the General Directorate of Industrial Development or the Iraqi Federation of Industries—from testing by the Central Organization for Standardization and Quality Control. This exemption aligns with Cabinet Decision No. 24261 of 2024, which applies to finished imported goods and domestically manufactured finished products subject to testing by the Central Organization, but does not cover raw materials. The meeting also reaffirmed that the National Investment Commission must ensure that solar power generation systems are installed at a minimum of 50% capacity in all housing units and apartments, while also implementing insulation materials in construction.
