Abbas opens cement factory in Jericho backed by investment fund
The plant is a partnership between the Palestine Investment Fund and the Issa Khoury Group, with Gaza reconstruction demand in mind.
President Mahmoud Abbas inaugurated the first Palestinian cement factory in Jericho on Monday, the official Palestinian news agency WAFA reported.
The plant was set up through a joint effort between the Palestine Investment Fund and the Issa Khoury Group for Mining and Construction Industries.
Prime Minister Mohammad Mustafa, Palestine Investment Fund Chairman Iyad Joudeh and Issa Khoury Group Chairman Issa Khoury attended the ceremony, along with businesspeople, officials and economists.
Speaking on Abbas's behalf, Mustafa welcomed guests to Jericho and the Jordan Valley and described the project as a meaningful move toward producing a key commodity for the national economy.
Mustafa said the factory is an important milestone for Palestinian industry, particularly the construction materials sector, which employs a large number of workers.
He expressed hope that the project would open the way for more high-quality industrial investment in Palestine.
He also pointed to the demand for building materials expected in the coming period as Gaza is rebuilt after the Israeli offensive.
Mustafa said reconstruction should help reunite the two parts of the homeland and restore a dignified life and hope for Palestinians in Gaza.
He called this a national duty and said the government, acting on the president's directives, is working to create the conditions needed to meet it.
Jericho lies in the Jordan Valley in the occupied West Bank.