Basra is near to key oil field developments and the large Faw Port project
Mitsubishi Heavy Industries (HI) has opened an office in the southern town of Basra, Iraq, as the Japanese company looks to position itself to play a vital role in the rebuild.
Basra, the second largest city in Iraq, is near to key oil field developments, and the large Faw Port project on the al-Faw peninsula in the south of the Basra region.
According to Misubishi HI, the new office is in response to the rapid increase in infrastructure needs and reconstruction demands, “against the background reconstruction and demand from war and economic sanctions, [and] the vast oil reserves.”
Established as part of the company’s global strategy, the Basra office will drive relationships with key customers and yield information about promising projects in Iraq including reconstruction.
“With the restoration of security, infrastructure projects and a number of the plan, Iraq has a high market potential,” said Mitsubishi.
In addition, there is high trust in Japanese companies, as a follow over from companies involved in infrastructure projects from the 1970s.
“Through the Basra office, close to customers and markets of Iraq, we will actively contribute to the development and reconstruction of the country,” said Misubishi.