German firm to build 2,000 housing units in Missan

By Fatima Kamal

Azzaman, March 3, 2009

The Investment Commission in the southern Province of Missan has signed a contract with a German construction firm for 2,000 new housing units.

The commissions’ chairman, Ali Warid, said the housing units will be sold to both the private and public centers once completed.

He said his commission was keen to lure German firms to the province. “The investment environment in Missan is very suitable to German firms. We have a lot of oil, cheap and abundant labor and besides we generally trust German firms,” he said.

Missan, of which Amarra is the provincial capital, holds some of the biggest and so far undeveloped oil fields in the country.

Warid said his commission was determined “to provide German firms willing to work in the province with all the means and measures that will help them execute the contracts they sign.”

He said his commission has already signed several contracts with German companies. He did not elaborate.

Warid said he was in contact with several banks on how to finance the new housing project the cost of which he declined to reveal.