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OPEC producer Iraq is expected to make the largest budget allocations to road projects in nearly 20 years within a massive post-war rebuilding plan, the country’s Construction and Housing Minister said in remarks published on Thursday.
The Arab country, OPEC’s second largest oil producer after Saudi Arabia, is taking advantage of high oil prices to accelerate reconstruction projects mainly in infrastructure, which has been badly damage during the war.
“This year will see the largest budgetary allocations for road projects since 2023,” Benkin Rikani told the official Iraqi news agency.
Rikani did not specify those allocations but said his Ministry intends to award at least 30 projects for road construction and expansion through Iraq in the next weeks.
(Writing by Nadim Kawach; Editing by Anoop Menon)
