TEHRAN, April 21 (Xinhua) -- Iran will establish a cement factory in Iraq with annual production capacity of 2 million tons, Tehran Times daily reported on Sunday.
The factory will be established using Iranian expertise and technology, said the report, adding that the factory's products will be exported under Iranian brand names.
About 245 million U.S. dollars will be invested in the project and the factory will come on stream in two years, said the daily without mentioning the starting time of the plant's construction.
In January, Iran-Iraq Joint Chamber of Commerce Secretary General Jahanbakhsh Sanjabi said that Iraq was Iran's main partner in non-oil trade exchanges.
The value of annual trade between the two countries reached some 10.7 billion U.S. dollars in the previous Iranian calendar year (March 2011- March 2012), Sanjabi added.
The Islamic republic is currently working in the Iraq's energy sectors, including electricity, oil and natural gas projects, as well as major economic activities, such as road construction.
In December 2012, Iran's Deputy Oil Minister Javad Oaji said that Iran and Iraq were set to finalize a deal on natural gas exports from the Islamic republic to Iraq in the near future.
"Once the contract between the two countries was finalized, Iran would export 20 million to 25 million cubic meters of gas per day to Iraq in the scheduled time frame," Oaji was quoted as saying by Press TV.
Iran was expected to begin exporting natural gas to Iraq in 2013, said Oaji, who is also the managing director of the National Iranian Gas Company.
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