Iraqi Private Cement Industry Booms to Meet Growing Demand
Iraq's private cement industry is booming in response to growing demand from the country's expanding construction sector, according to a CNBC report.
In 2023, the private sector produced 34 million tons of cement, accounting for 65% of total Iraqi production, up from 25 million tons in 2022.
The surge in demand is being driven by the Iraqi government's ambitious infrastructure development plans, which include hundreds of new projects each year. The government is also expanding its investment incentives for the private sector, leading to increased investment in the cement industry.
The southern province of Muthanna is a leading center for the Iraqi cement industry, with four factories currently operating and four more under construction.
The province has abundant reserves of limestone, a key raw material for cement production.
The government has taken steps to support the private cement industry, including reducing fuel prices and banning imports of cement. The industry's growth is expected to continue as the government's infrastructure development plans progress.
Source: shafaq.com
