Iraq will build a $107m tourist compound on the coast of the Shatt al-Arab waterway in Basra province.
The investment commission of Basra governorate has granted permission for the construction of the compound featuring hotels, recreation facilities and public areas, across a 396,000 square metre site nearby Shatt al-Arab.
The private sector will build the project in two phases and plans to finish the work in 2014.
Iraq is keen to rebuild its infrastructure for tourists to boost the economy, with much focus on investment in Basra governorate.
The oil-rich province, with the Gulf coast and the area alongside the Shatt al-Arab, is one of the country’s main tourism sites.
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