Egypt's foreign minister, Karmel Amro [Mohamed Kamel Amr], will lead a delegation of power companies to Iraq to discuss the formation of an Iraqi-Egyptian company to rebuild Iraq's power grid. AKnews reports that the the delegation will visit Baghdad in the last week of January. Hassan Najem, representing a coalition of Egyptian power companies, said that […]
AKnews reports that up to 26 foreign companies are engaged in preparations to build a 500 MW power plant in Kirkuk. Kirkuk currently requires 880 MW, but can only provide 450 MW: 240 MW from the national grid and 225 MW through a contract with Kurdish investor. Rebwar Talabani, the Deputy head of Kirkuk Provincial […]
The Central Bank of Iraq expects the average annual income in 2012 will reach almost $6,000 (7 million IQD), up from $5,200 (6 million IQD) in the previous year, according to AKnews. The deputy governor of the CBI, Mudhar Mohammed Saleh, said the estimate was made based on the governments planned investment in oil and […]
Iraq plans to increase domestic wheat production by about 74 percent to 3 million metric tons by 2015, according to Saleh Hussein Jabur [Jabr], director general of state- owned Mesopotamia Seed Company. Bloomberg reports that the government intends to triple the annual quantity of wheat seed that it buys from local farmers to 180,000 tons […]
The Iraqi Embassy in Washington DC dealt with nearly 5,000 applications from American companies hoping to do business in Iraq last year, a 70% jump from 2010, according to an article from Chicago Business. Among the companies mentioned are the Schaumburg, Illinois-based manufacturer Quality Float Works Inc., which mades devices to control liquid flows in […]
Iraq's National Investment Commission (NIC) has released a 3,100-donum (775 hectare) site for development. The Al-Bathaa land starts north of the Euphrates river and ends south of the old Ur railway line; to the west the land is adjacent to the Bathaa district while close to the center of Thi Qar Province on the east. […]
French company Alcatel-Lucent will build a $27 million (32 billion IQD) land-line communications network in the provinces of Diayla and Anbar, according to AKnews. Bassam Salem al-Zaidi, a Diyala Province spokesman, told AKnews that the company will start work "in the coming months" in Diyala, where it will connect 35,000 subscribers at a cost of $13 […]
Al Arabiya reports that the United Arab Emirates will scrap $5.8 billion in debts owed by Iraq. Emirati foreign minister, Sheikh Abdullah bin Zayed al-Nahayan, said on Monday at a news conference hosted jointly with Iraqi foreign minister Hoshyar Zebari (pictured): “An agreement will be signed soon to lay out the legal framework for waiving […]
The Iraqi government has temporarily detained more than 100 international workers in recent weeks over visas and paperwork issues, according to the International Stability Operations Association, a trade group representing contractors. “We want to ensure that you are aware of the seriousness of this issue and the impact it is having on our members’ ability to […]
Reuters reports that Iraq has signed a $235-million electricity deal with a subsidiary of Turkey's Enka Insaat to install a 500-megawatt power plant in the Al-Najibiya district of Basra. The company will install four General Electric (GE) gas units, each with a capacity of 125 megawatts, within the next 16 months, said electricity minister Karim Aftan. […]
Mehdi Fakour (pictured), Managing Director of the Iranian Central Oil Fields Company (ICOFC), has announced that Tehran and Baghdad have decided to establish a joint company to developing three joint oil fields, according to the Iranian Fars News Agency. "An Iraqi delegation will visit Iran on February 6 to finalize the establishment of the company," […]
Iraq is planning its participation in the fifth round of the Arab-Chinese Business Conference, according to AKnews. Iraq is expected to attend the one-day conference in Sharjah city with a high-level delegation headed by the Minister of Trade, Khairullah Hasan. “Iraq is in the process of reconstructing the country. Therefore normalizing these economic relations is […]
