Kuwait-based Al-Nasriyah Company has signed an agreement with Iraqi National Investment Commission (NIC) for the development of a new cargo airport in Diwaniya governorate of Iraq at a cost of $1.35 billion, said a report.

The new airport, which will be spread over an area of 17,500 sq m, will be operated by Al Nasriyah under a 45-year contract, reported the Kuwait news agency.
 
The governorate has allocated roughly the same area of land for future expansions, the governor of Diwaniya, Ammar Al-Madani, was quoted as saying in the report.

The project aims to create some 8,000 jobs for the residents of the governorate and on completion, it will help boost the country's revenue by 10 per cent, it added.