KurdistanObserver.com

Kurdish PM Inaugurates USD 350-Million-Project West Of Erbil

ERBIL, Kurdistan-Iraq, -- KUNA- Feb 25, 2006 The Kurdish Premier Nechirvan Barzani inaugurated Friday the Empire World project, covering 300,000 square meters west of Irbil and valued at USD 350 million.

Prime Minister of Kurdish regional government, Barzani said during the inauguration that the project would be a green light for investors, who would realize that the Kurdistan of Iraq has been a safe area for their investments.

"Soon, the National Assembly of Kurdistan of Iraq will issue a law to regulate investments," said Barzani, stressing that "investors' rights would be preserved by this law." The Kurdish government, he said, has been willing to present all facilities to anyone willing to invest in the area.

The Empire World project will be implemented by the Iraqi Consultants and Construction Bureau (ICCB) and Falcon Group. It would include a Five-star hotel, four small cities, resorts, restaurants and shopping malls.

Moreover, companies from Kuwait and the UAE have recently finished a study for a pioneering project to be implemented in three stages in the Kurdistani city of Sulaimani. The projects would cost USD 50-70 million and would take seven years to be completed. All taxes and tariffs would be waived from companies participating in the project for five years.