Copperchase Middle East Projects (MEP), a recently formed division of Copperchase Limited has secured a $160 million housing development contract in the Province of Al Najaf in Iraq (link: http://al-iraqnews.net/new/mhafadat/37390.html).
The scheme to deliver 3000 housing units for private sale over a four year period will go some way towards easing the chronic shortage of affordable housing in the Al Najaf province of Iraq. Copperchase has formed a Joint Venture (JV) with 4th Dimension General Contracts and the Al-Bilad Bank, supplying construction expertise and funding required for the project.
February 2009 saw the introduction of new investors in Copperchase with specific business interests in the Middle East Region. Copperchase perceives the Middle East and Iraq in particular as an expanding market for European goods, services and technologies despite the current global recession.
Amongst other successes in the region, Copperchase MEP’s Procurement arm has recently completed transactions to supply air-conditioned coaches to Iraq and is negotiating with prestigious UK and European companies to procure heavy goods vehicles, Micro Gas Turbine Generators and Airport Opportunities.