The national project will provide an alternative to petrochemical raw resources and will involve cooperation among three ministries.
The project passes through four governorates and will be the company’s second train venture with Iraq.
New tenders would be issued later for the management and operation of more wharfs in Umm Qasr, said the director at Ports Authority.
The new seven-star hotel will boost the country’s tourism sector and will be offered to investors by end-2014.
The last date of tender submission has been extended to 11 March from 4 March, 2014.
More investments are planned for the additional two phases of the car assembly plant.
Problems to worsen if oil prices fall below USD105, says the official report seeking the regions’ commitment in improving the investment climate.
The group has major expansion investment plans worth USD 816 million (AED 3 billion) over the next five years.
The USD 7.4 billion New Port Project, scheduled for completion by 2016, will have an annual capacity of over six million containers.
The PIC is following its strategy to boost its production to up to 15-20 million tons per annum by 2020, says its CEO.