Tag Archives | GE

Cape Pursues Expansion in Iraq

By John Lee. UK-based Cape plc, a provider of critical industrial services to the energy and natural resources sectors, has said that it is pursuing expansion in Iraq, where the Group was awarded initial small contracts from Kuwait Energy and GE during 2016. In its preliminary results for the twelve months to 31 December 2016, […]

GE’s Iraq deals in at Risk over US Tavel Ban

By John Lee. US diplomats, citing a senior Iraqi government official, have said that the US travel ban could jeopardise General Electric (GE)‘s business in Iraq. According to a memo obtained by Politico: “[The Baghdad government] was preparing to sign two more deals with U.S. company General Electric that could be negatively affected, and that the […]

IBBC Welcomes Five New Members

The end of 2016 saw several new members join the Iraq Britain Business Council (IBBC), each of which are underpinned by strong reputations for innovation, reliability and a commitment to investing in Iraq. GE, Khudairi Group, Pell Frischmann, Petronas and Siemens join 51 other world- and region-leading companies that form IBBC’s Council of Members. “IBBC […]

IBBC Celebrates Successful Inaugural Conference in Dubai

More than 180 expert speakers and delegates from the UK, Iraq, UAE and abroad gathered in Dubai at The Address Dubai Marina on Sunday 18 December for the Iraq Britain Business Council’s (IBBC) Autumn Conference. Usually held in London, the well-attended conference marked the first time the IBBC has held an event in the UAE, […]

Baroness Nicholson – Opening Speech at IBBC Conference

Baroness Nicholson – Opening Speech for the Iraq Britain Business Council (IBBC) Conference on December 18th in Dubai: Welcome to Dubai. IBBC has been aware for many years of the important role that the UAE plays as a regional hub for business and trade through the MENA region and in particular as a regional base […]

New Financing for Iraqi Projects

By John Lee. GE, Trade Bank of Iraq (TBI) and Standard Chartered Bank (SCB) have reportedly signed a financing MoU to accelerate the development of power and infrastructure projects in Iraq. According to TradeArabia, a similar financing agreement with the three entities earlier this year facilitated the completion of the first phase of the ‘Power […]

NIC grants $90bn in Investment Licences since 2009

The Elaborated Economic Conference for Investment Projects in Iraq was held in Baghdad on 17th October, organized by the Supreme Committee of Provincial Coordination and the National Investment Commission (NIC), with the attendance of a number of Parliament members, Ministers, Governors, Heads of Provincial Councils, Heads of Provincial Investment Commissions in addition to representatives of […]

GE signs $520m Iraq Deal

GE has signed a multiyear agreement in Iraq with Mass Energy Group Holding. The $520-million contract includes operation and maintenance services as well as GE’s advanced digital industrial solutions for the 3-gigawatt gas-fired Basmaya [Bismaya] Power Plant, 40 kilometers east of Baghdad. This contract represents a continuing effort between Mass Energy Group Holding, the Iraqi […]

GE signs Power Deal in Iraq

By John Lee. General Electric (GE) has signed a “strategic framework agreement” with Iraq’s Oil Ministry on Sunday. The projects are planned to generate more than 400 megawatts of power for oil installations by summer. Other initiatives are to maintain existing generating infrastructure and reduce gas flaring from oil fields. The ministry did not specify […]

Qaiwan secures $105m Loans for Iraq Power Plant

By John Lee. Kurdistan’s Qaiwan Group has secured two loans totalling $105 million to refinance part of the firm’s investment in the 442-MW Bazian Power Plant (pictured). According to a report from Trade Arabia, Deutsche Bank has arranged an eight-year $75-million buyer credit, along with the Dubai branch of Lebanon’s Bankmed. The finance is being […]