Iraq’s National Investment Commission (NIC) said it plans to develop a $65 billion multi-service economic city in the Al-Tayeb border area in Maysan governorate as part of the country’s broader Development Road strategy.
NIC Chairman Haider Makiya told the Iraqi News Agency (INA) that the project will cover more than 120,000 acres and is expected to be officially offered as an investment opportunity in the coming months.
Core infrastructure Makiya said approximately $5 billion of the total projected investment will be allocated to core infrastructure, including roads and transport links, electricity networks and sewage and water systems.
The infrastructure package is intended to prepare the site for large-scale private sector investment.
The NIC chairman said Al-Tayeb offers strong natural advantages for economic development, including availability of water resources, access to fuel resources and abundant construction materials such as sand and gravel.
Makiya said the Al-Tayeb project is one of six potential investment cities identified across Iraq based on natural resource availability.
Each location is being evaluated for its ability to host integrated economic cities aligned with the Development Road initiative, which aims to strengthen industrial activity, and regional trade links.
(Writing by Majda Muhsen; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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