Kurdish and federal Iraqi officials have agreed on potential mechanisms for paying oil firms operating in the Kurdish north but the proposals must be approved by the Iraqi cabinet.
The Council of Ministers agreed on Tuesday on the proposal presented by the Oil Ministry to establish the Central Oil Company (COC) with a capital of 100 billion Iraqi dinars.
The council authorised the minister to invest the remaining amount of the Japanese loan of around $220 million in projects.
The Basra steel mill will have a capacity of 1.2 million-t/y of iron bars; 600,000-t/y of section steel; 1.2 million-t/y of hot-rolled products and a 500MW power station.
Basra’s Investment Commission granted a permission to start a free trade-zone area with Iran.
The agriculture ministry has approved 2081 loans worth 33 billion Iraqi dinars, most of them will be given to small farmers. “The loan funds’ board decided on Tuesday (April 13) during its 30th session, headed by Minister Akram Moussa al-Hakim, to approve 2081 loans,” said a ministry’s statement received by Aswat al-Iraq news agency. “The […]
Finance Minister Baqer al-Zubaidi discussed on Tuesday with Electricity Minister Karim Wahid the important projects, which will be implemented by the electricity ministry in Iraq, according to a ministerial statement. “The meeting was attended by representatives of finance, planning and electricity ministries,” said the statement received by Aswat al-Iraq news agency. “The projects will include […]
STX Heavy Industries, a South Korean contractor is still in negotiations with Iraq’s industry and minerals ministry over the $3bn contract for a Basra steel mill project, Meed has reported, citing a source close to the deal. Upon completion, the Basra steel mill will have a capacity of 1.2 million-t/y of iron bars; 600,000-t/y of […]
The Iraqi Stock Exchange (ISX) index went down by 1.8% to close at 91 points as trading took place on Tuesday over shares of 37 out of a total of 82 electronically-registered firms. Shares of 9 companies went up, 19 down while 9 others retained their previous rates. The number of shares traded hit 506 […]
Basra’s Investment Commission has granted permission to start a free trade-zone area with Iran. “The project was proposed by a local firm,” a source from the commission told Aswat al-Iraq news agency on Tuesday. He said that the firm will invest $16.2 million in the project over a period of 25 years. ( Aswat Al […]
A 4-day Iranian commercial fair opens in Najaf city on Wednesday, April 14. “Fifty-five Iranian firms will participate in the fair,” a source from the Najaf Chamber of Commerce told Aswat al-Iraq news agency on Tuesday. He said that the Iranian companies are considered specialized in their fields. ( Aswat Al Iraq )
He pointed out that Iran’s exports to Iraq exceed Iran’s exports to the UAE. “Iran’s export to both these countries in 2008-9 was almost the same Iran’s exports to Iraq in 2009-10 doubled compared to the previous year. Masoud Daneshmand, the head of Iran-Iraq Chamber of Commerce, told Iran Daily on Saturday that Iran’s exports […]