Tag Archives | Basra Investment Commission

New 25-Storey Hotel for Basra

By John Lee. The Basra Investment Commission has reportedly approved a number of projects including the construction of a 25-storey hotel and a shopping mall. According to a report from Zawya, Commission Chairman Ali Gasib said the luxury hotel would be located near the Shatt Al Arab river, while the shopping facility would be situated […]

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Basra Steel Plans “on Hold”

By John Lee. the Basra Iron & Steel Company (BISCO) has reportedly put its new rebar mill investment on hold due to regional political issues. A decision on further progress is expected to be taken after talks with the Basra Investment Commission (BIC) later in September. ArabSteel reports that BISCO, an investment by Isa Unal, […]

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Alkitan Plans Basra Cement Plant

By John Lee. A Pakistani company identified as “Alkitan” has said it will build a new cement plant in Basra. Company director Shakir Ali told the Basra Investment Commission that they wanted to set up there “due to the abundant natural resources and investment opportunities”. He added that the plant will be built on a […]

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Turkish Company Signs $700m Basra Steel Contract

By John Lee. The Basra Investment Commission has announced that the Industry Ministry signed a contract with the Turkish company UB Holding to rehabilitate iron and steel factories at a cost of $700 million. According to Aswat al-Iraq, the head of the commission said that the contract includes adding new production lines and increases annual […]

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$162m “Basra Times Square” Project Gets Green Light

By John Lee. Basra Investment Commission (BIC) has granted an investment licence for a $162-million tourism project in central Basra. Khalaf al-Badran (pictured), Chairman of the BIC, said: “The license for the ‘Basra Times Square’ project was granted to Dier Company for Contracts … This project will achieve great benefit and will be a remarkable […]

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Dutch Delegation Visits Basra and Kurdistan

A high-profile Dutch business delegation, led by Dutch charge d’ affaires Lars Tomers, visited the headquarters of Basra Investment Commission on Friday to discuss the investment plan in Basra and the possibilities for Dutch companies. They agreed to hold another meeting in June, according to Aswat al-Iraq. Meanwhile, AKnews reports that a 25-member business and […]

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Denmark’s Phoenix Bags $86m Basra Pipeline Contract

Danish company Phoenix International has signed an  $86m (100 billion IQD) contract with Basra Investment Commission for the production of oil pipelines. AKnews reports that Phoenix was granted the project licence for a ​​250-acre area in the town of Umm Qasr, in southern Iraq. The licence is for 35 years, which is subject to renewal. […]

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