Korean Company Wins $3bn Contract in Basra

South Korea’s STX Heavy Industries has signed a $3bn deal to build a steel plant and gas-fired power station in Basra. The power plant will have a capacity of 500MW, while the steel plant should output 3m tons annually. The Iraqi State Company for Iron and Steel will take charge of operating the plant after […]

Al- Ajili / Cooperation with Hawaii University

Minister of Higher Education and Scientific Research Abd Thiab al- Ajili has confirmed that Iraqi Higher Education is looking forward to expanding cooperation with international universities with the  aim of making use of their expertise in developing the educational sector and other institutions in the country. During his meeting with number of professors in Hawaii […]

Five-year Development Plan Completed

The Iraqi Ministry of Planning has finalised its development plan for the years 2010-2014, focusing on the oil and electricity sectors as a first priority, but extending as far as agricultural and rural development. The program includes more than 2,700 projects worth nearly $186bn. (Sources: Aswat Al Iraq, Iraq Directory)

Kurdistan to Resume Oil Exports

Iraq’s oil minister, Hussain al-Shahristani, said he expected exports from Kurdistan to resume in the near future, but the status of disputed oil deals with foreign companies (including Norway’s DNO) remain unclear. This follows resolution of a disagreement between the semi-autonomous region and central government regarding payment mechanisms. Shares in Gulf Keystone Petroleum and DNO […]

Strengthen Commercial Ties with India

(Sources: Reuters, Hindustan Times) Iraq’s Minister for Industry and Minerals announced the intention to strengthen commercial ties with India, following a visit to New Delhi. The state-run Indian Oil Corp (IOC) plans to import 220,000 bpd of Iraqi oil, and joint ventures worth $2bn are being investigated.

Swiss Firm Wins Housing Contract

(Source: Aswat Al Iraq) Aswat Al Iraq reports the signing of an agreement on Tuesday between al-Muthanna provincial authority and a Swiss firm to build 3,000 furnished residential units for poor families in the province. Each unit will be sold for approximately $5,000.

Iraqi Fleet on 1st Journey in 10 Years

The Iraqi fleet has launched its first journey around the world in 10 years with the departure of one of its ships from an Egyptian port. “The Iraqi al-Nasser, carrying 16,250 tons, has set off from the Egyptian port of al-Quseer heading to Malaysian ports,” the Iraqi Ministry of Transportation said in a statement received […]

Iraq Minister of Communication to Issue License for a New Mobile Phone Company

Iraqi Minister of Communications Farouk Abdul Kader told Alsumaria TV in an interview that Iraq is about to issue a fourth license for the supply of mobile phones by means of a public/private partnership.  This national bid aims at providing a high quality communication service, something  which existing commercial mobile phone companies have failed to […]