Chinese conglomerate Gezhouba Group has offered to invest $10 billion in infrastructure projects in the Kurdish Autonomous Region in northern Iraq. Mohammad Shoukry, chairman of the Kurdistan Investment Council, said the group had offered to invest the funds in rail networks, power projects, roads, dams and other areas.

Shukri added that the Kurdistan Regional Government has formed a committee to study the offers and identify investment projects. He did not say whether it was part of the oil-for-project agreement signed between Iraq and China in 2019. Under the agreement, Chinese companies will carry out projects in the Arab country in exchange for supplies of crude oil.

Governments in the region are attracting international investment in various sectors, including oil and gas, power, agriculture and services. Gezhouba is a subsidiary of China Energy Engineering Corporation, specializing in the field of civil engineering.Editor/XingWentao