Iran building $245m cement factory in Iraq

Iran is building the first cement factory with a production capacity of two million tons in the Iraqi province al-Muthanna, according to the Islamic Republic News Agency.

Work is about 10% of the way through at the Azarabadegan-e Khoy Cement Factory.

Four main lines of the factory will be completed by Iran at the cost of $245m over two years.

Majid Qorbani-Faraz, of Iran Trade Development Organization, said that Iranˈs non-oil exports to Iraq in the past Iranian year (ended on 20 March, 2013) stood at $6bn, showing a 19% year-on-year increase.