Investing in an interlocking tile factory project in Iraq represents an investment opportunity in 2022. Iraq is currently distinguished by its commitment to providing full support to drive investment in the country, supporting Vision 2030 to advance the national economy, rebuild and strengthen the foundations of the non-oil economy, and striving to position the Iraqi economy in a distinguished position among global economies.
What is interlocking tiles?
Interlocking tiles are manufactured in geometric shapes and are installed using an interlocking or overlapping method. They can withstand heavy pressures and loads of up to 300 kg/cm². Therefore, interlocking tiles, without cement additives, are used for paving driveways, roads, and parking lots. They are also used for pedestrian walkways in parks, playgrounds, tourist resorts, gas stations, and hospitals.
In 2020, the global interlocking tiles market reached a value of to US$2,077.1 million, and is expected to rise Global Interlocking Tiles Market Value At a CAGR of 4%, it will reach USD 2,851.2 million by 2027.
The number of factories in Iraq is growing at a compound annual growth rate of 8.9%, as the Iraqi government seeks to support industrial sector projects. The Industrial Bank of Iraq provides financing support of up to 20 billion Iraqi dinars for industrial projects, with an interest rate not exceeding 4% per annum and a repayment period of up to 10 years.
Mashroo3k Consulting confirms that the interlocking tile factory project in Iraq represents a promising investment opportunity.
For more details on the latest economic sector indicators and investment opportunities in Iraq, as well as the most prominent funding agencies supporting successful investment projects in Iraq, you can contact the investor services team at Mashroo3k Consulting.
