Baghdad: Iraq's government has announced plans to build an $850m shipbuilding and repair facility at its Gulf seaport, writes Businessweek. A government statement said a company belonging to the Iraqi Industry Ministry will manage the design and construction of the shipyard in the port of Khor al-Zubeir.
The statement issued Monday by the prime minister's media office says the shipyard would be used to build specialized small ships, supply vessels, naval patrol boats and towing ships. The facility, which will also offer repair and maintenance facilities for foreign ships visiting Iraq, is expected to begin operations by the end of 2011. [05/11/08]
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