China Sinoma to construct cement plant in Iraq
China Sinoma International Engineering announced that its subsidiary Sinoma (Suzhou) Construction Co Ltd has signed a contractor contract, worth $ 112.5 million, with Iraq investment firm Mass Iraq. The Suzhou-based company, together with the Iraq company, agreed to the contract for construction of a cement plant in Sulaymaniyah, with a capacity of 5,300 tpd. The contract covers the design, procurement, construction, installation, commissioning, trial production and the final examination by standard of the raw material storage to the whole production line. The project will take atleast two years to complete. Both the parties have agreed upon the maximum compensation for the losses caused by the fluctuation of exchange rate and material prices will be 5 per cent of the contractual value.
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