Iraq has agreed to award housing projects to Egyptian companies with a combined value of around $450 million, an Iraqi official was quoted on Wednesday as saying. 

The contracts are part of agreements signed by the housing ministries in the two Arab countries for execution of projects in Iraq within its post-war reconstruction drive. 

Under those agreements, Egyptian companies will be awarded 14 housing projects with a value of $450 million in various parts of Iraq, Jaber Al-Hassani, Iraqi Housing Ministry Undersecretary, told the Egyptian Arabic language daily Addustoor. 

“We intend to sign three main contracts within one month with 3 Egyptian companies, including the Arab Contractors Company...the contracts will be under the supervision of the Egyptian Housing Ministry,” Hassani said. 

“We are also planning to cooperate with the Egyptian Transport Ministry for the execution of two major projects in Iraq,” he added without elaborating. 

(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)

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