Cabinet orders to deliver specialized quays for UB Holding Turkish Company

deliver specialized quays in Basra to iron and steel plant to be delivered later to UB Holding Turkish Company.

Quays are specialized facility belonging to the iron and steel plant in Basra that  stopped working after 2003, as Iraqi Ports Company restored to rent them for the purposes of loading oil tankers.

The general director of the company, Abbas Hayal told “Shafaq News” said that “the order was recently issued by the cabinet to the General Company for Iraqi Ports that stipulates handing them over to the specialized quays in Basra and belongs to the General Company for Iron and Steel to give them to UB Holding Turkish company accordance with the terms of the contract signed between the company and the investing company.”

"Until now and despite the cabinet’s issuance for the order to the General Company for Ports of Iraq, it still refuses to hand it over to Iron and steel specialist company," noting that "the Turkish investment company will start to invest the plant until it receives all its facilities, including specialist quays,” he said.

The terms of (UB Holding) Turkish Company included rehabilitation of iron and steel company to dismantle, remove  old production lines and change them by modern lines According to the Act of 22 of private investment, and keep the Iraqi staff working in the plant, totaling up to five thousand employees on the exchange of the Iraqi company to pay their monthly salaries.

The contract gives 15% to the Ministry of Industry and Minerals and 1% for Basra province from the proportion of annual sales of up to one million tones after it used to produce 440 thousand tons per year.