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Economy News - Baghdad
The Iraqi Ministry of Agriculture announced new details on the issue of Saudi investment in Iraqi lands, indicating the need for sufficient water to be available for this investment, and that Riyadh is looking for alternative lands to establish its investments.
"The investment project that Saudi Arabia intends to start in Iraq has been delayed," ministry spokesman Hamid Al-Nayef said, attributing the reason to "the lack of a water environment and suitable land for this investment," according to Rudaw.
Al-Nayef explained that "after consulting the Ministry of Water Resources, it was concluded that the areas chosen in southwestern Iraq for investment, their water wells are not sufficient for this investment, especially since Saudi Arabia wants to invest for 25 years in Iraq."
A spokesman for the Ministry of Agriculture stated that "the Saudi side is looking for another land in Iraq, to establish their investments, provided that sufficient water is available for them."
It is reported that Saudi companies expressed their desire to establish cattle breeding stations on an area of 10-50 thousand dunums in the governorates of Muthanna, Anbar and Najaf, but the Ministry of Resources confirmed its inability to provide sustainable water, and therefore Saudi companies apologized for the implementation of this project.
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