Dubai contractor Drake & Scull is reported to be close to winning a $300 million contract in Iraq. Chief executive Khaldoun Tabari said the contract will be the construction of an oil and gas pipeline in Basra, reports Reuters. “We are very close to finalizing the deal,” he said. Drake specializes in mechanical, electrical and […]
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. […]
Ukraine is preparing to ship a second batch of 62 BTR-4 armored personnel carriers to Iraq,, reports Kyiv Post. The BTR-4s were assembled at the Kharkiv facility under a contract worth more than $550 million for the supply of Ukrainian military equipment to Iraq. The deal was finalised in 2009 by a state-run subsidiary of Ukrspecexport. […]
Working-at-height specialist Simian Risk has won a contract to provide on-site training for Shell and the South Oil Company in Iraq. The UK-based consultancy firm, which launched in 2005, will provide bespoke scaffolding and work at height training and supervision at a new oil field site in Southern Iraq. Simian Risk will be working closely […]
Iraq has announced the names of foreign companies bidding to build a $1 billion, 1,500 megawatt, power plant in western Iraq, according to a report from Reuters: South Korea's Hyundai Engineering & Construction; Italy's Saipem; Greece's Metka; Turkey's Gama; and, a consortium of Turkey's Calik Enerji and Italy's Techint. The plant will consist of six units: […]
Iraq's minister for construction and housing plans to spend $9.8 billion on roads, bridges and housing between now and the end of 2016, reports Bloomberg. Mohammad Saheb al-Darraji (pictured) said the country is budgeting $5.8 billion for roads and bridges and $4 billion for housing. The current annual budget is $112 billion. The country needs 2.5 […]
Iraq is buying unmanned drones from the United States to help protect its southern oil platforms, U.S. and Iraqi officials said on Monday. An official from the Office of Security Cooperation in Iraq, which is part of the U.S. embassy, declined to give the model or number of drones that are part of the contract, […]
Logistics firm DHL has extended its supplementary day definite road service into Iraq, thus linking the GCC and the Levant regions to the country. This DHL ECONOMY SELECT service will complement the existing airfreight program, the DHL time definite services, and will serve countries across the GCC and Levant with a slower transit time offering. […]
In Iraq, where barely anyone has a bank account, the trade in foreign currencies is largely unlicensed. Now money traders are smuggling US dollars to sanctioned Syria and Iran. And the Iraqi govt may well be using the situation for its own political ends too, according to this report from NIQASH. The Iraqi dinar is […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
