2014

BIOGH Masterplan Receives Planning Approval

BASRA, Iraq, June 12, 2013 /PRNewswire-iReach/ -- BIOGH is pleased to announce that the Masterplan for the Basra International Oil and Gas Free Zone has been formally approved by the Consulting Bureau of the College of Engineering at the University of Basra, and by the Iraq General Commission for Free Zones.

(Photo: http://photos.prnewswire.com/prnh/20130612/CG30814)

This planning approvals milestone represents an ongoing successful collaboration, notably with the efforts of Dr. Sabah Al-Qaisi, Director General of the Iraq General Commission of Free Zones, and his dedicated teams in Basra and Baghdad, the team at Basra University, and the BIOGH management team. Together, this Public Private Partnership has taken a proactive, creative, and diligent path in creating, building and nurturing a new model for positive change and growth for the future of Iraq.

The creation of the BIOGH Oil and Gas Free Zone is one of the most significant investment contracts entered into by the Iraqi Free Zones Commission, strategically placed in Southern Iraq. BIOGH will be the largest oil and gas free zone in Iraq, and it will greatly increase the Free Zone's contribution to the economy of Iraq by attracting significant foreign direct investment, technology transfer, educational opportunities, careers training and job creation over 50 years.

The training of Iraqi nationals and provision of sustainable jobs has been a driving point for BIOGH / FZ partnership as key to a successful and sustainable future for Iraq. The partnership will employ a projected 10,000 Iraqi nationals over an initial period of 12 years and this number is projected to grow as BIOGH expands. The BIOGH Free Zone will also offer training and education in core disciplines that support the growth of industry in the region.

BIOGH has made significant progress in recent months with major pre-construction, topographical, geotechnical, and UXO surveys already implemented. Pricing for the first phase of work has been finalized by the BIOGH Project Management Team. BIOGH's development managers EPGI are working closely with tenants on the temporary utilities and camp resources. Temporary utilities for near term delivery requirements will be used until the permanent on-site utilities are completed, in line with the Masterplan and tailored to tenants' specific requirements.

BIOGH's Customs and Immigration clearance facilities and fast-track approvals under agreement will be released alongside each phase as it is delivered for tenant take-up. Other permanent facilities which are in the planning and implementation phases include the infrastructure and logistics to support the transfer of goods in and out of the BIOGH Free Zone, state-of-the-art IT and security, emergency fire and medical services, banking services, hotels, business centre, mixed use commercial components, and education and training centre. There will also be a range of residential accommodations, including multi-family, serviced apartments, health and fitness centre, food service, and sports facilities.

www.biogh.com

Media Contact: Jo Armitt BIOGH, +44 20 8 944 6756, info@biogh.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE BIOGH



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