China & Iraq Begin Construction Of New City Near Baghdad
On Friday Iraq broke ground on 30,000 housing units near Baghdad, as part of a $2 billion project in partnership with Chinese firms to build five new cities across Iraq, Bloomberg has reported.
The government of Prime Minister Mohammad Shia al-Sudani is seeking to build 250,000 to 300,000 housing units for poor and middle-class families. The new city on the outskirts of Baghdad will include universities, commercial centers, schools and health centers and should be completed in four to five years.
Contracts to build the housing units were awarded to East China Engineering Science and Technology Co., Ltd. and China National Chemical Engineering Co., Ltd along with their Iraqi partner Shams al-Binaa.
Contracts to build four more cities are expected to be awarded soon and another 10 will be announced next year, including in Karbala, Anbar, Nineveh and Babel governorates.
Chinese firms have increased their presence in Iraq in recent years, in part due to a deal between Baghdad and Beijing.
In 2019, Iraq signed a 20-year contract, agreeing to supply Chinese firms with 100,000 barrels per day (bpd) of crude oil, with the revenue earmarked for funding various development projects in Iraq undertaken by Chinese firms.
Following the deal, Chinese firms built 1,000 schools, developed the Nasiriya city airport, erected power plants, and completed several other infrastructure projects.
China has accelerated its investment in Iraq and other West Asian nations as part of its Belt and Road Initiative (BRI) announced in 2013.
https://www.zerohedge.com/geopolitical/china-iraq-begin-construction-new-city-near-baghdad
The government of Prime Minister Mohammad Shia al-Sudani is seeking to build 250,000 to 300,000 housing units for poor and middle-class families. The new city on the outskirts of Baghdad will include universities, commercial centers, schools and health centers and should be completed in four to five years.
Contracts to build the housing units were awarded to East China Engineering Science and Technology Co., Ltd. and China National Chemical Engineering Co., Ltd along with their Iraqi partner Shams al-Binaa.
Contracts to build four more cities are expected to be awarded soon and another 10 will be announced next year, including in Karbala, Anbar, Nineveh and Babel governorates.
Chinese firms have increased their presence in Iraq in recent years, in part due to a deal between Baghdad and Beijing.
In 2019, Iraq signed a 20-year contract, agreeing to supply Chinese firms with 100,000 barrels per day (bpd) of crude oil, with the revenue earmarked for funding various development projects in Iraq undertaken by Chinese firms.
Following the deal, Chinese firms built 1,000 schools, developed the Nasiriya city airport, erected power plants, and completed several other infrastructure projects.
China has accelerated its investment in Iraq and other West Asian nations as part of its Belt and Road Initiative (BRI) announced in 2013.
https://www.zerohedge.com/geopolitical/china-iraq-begin-construction-new-city-near-baghdad
Good for them. Our trillions went to corrupt Iraqis and American politicians. Our poor soldiers deaths meant nothing to our politicians. Never again
YEs, but there is the aspect that China comes in and funds and builds infrastructure, after USA wrecked it al in a bomb-them-back-into-the-stone-age policy. Any kvetching about China, comes off as sour grapes.
Who else is building schools in Iraq? Power plants? I thought not.
Iraq is dead.
China is just feasting on the carcass.
That's not true. Iraq has oil, China needs oil.
The Iraqi dinar as from tomorrow will not be connected to the petrodollar, it will be based on gold. Watch what happens to the Dinar from tomorrow onwards,
Nope
Joe Biden is in charge of all this.
😂🤣 china building apartment houses etc..... the guys that can't build a dam and their Instant cities out of box are made from paper? Oh this is going to be ripe!!!
Yes, the total collapse of their home market for crap housing isn't really a good recommendation for this joint venture.