Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. South Korea's Daewoo Engineering & Construction has won a US$70.35 million order to build entrance roads for the new Al Faw Grand Port in Basra. Under the deal with the General Company for Ports of Iraq (GCPI), Daewoo will complete the 14.5 kilometer-long road by May 2021. Earlier this year, the company […]
By John Lee. Attock Cement Pakistan Limited (ACPL) has said that commercial production at its new 0.9 Mta cement grinding unit in Basra started on Sunday. The company, which makes the Falcon brand of cements, is a member company of Pharaon Commercial Investment Group. (Sources: Pakistan Stock Exchange, Cemnet)
By John Lee. The British Museum has handed over of an important collection of 156 cuneiform tablets to the Government of Iraq. This is the largest such group to be seized in the UK and returned to Iraq. They are Mesopotamian texts written on clay in cuneiform script and were incorrectly declared on entry to […]
TechnipFMC plc (NYSE: FTI) (Paris: FTI) has announced that its Board of Directors has unanimously approved its plan to separate into two industry-leading, independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider, continuing to drive energy development; and SpinCo, a leading engineering and construction (E&C) player, poised to capitalize on the global energy […]
By John Lee. A US military contractor has won a judgment estimated at $140 million against Iraq to reimburse it for unpaid invoices relating to work done for the Iraqi Ministry of Defense. Dale Stoffel, the President of Wye Oak Technology, was killed in mysterious circumstances fifteen years ago while attempting to recover the debt. […]
Government of Iraq contributes $33m for stabilization activities in historic agreement The Government of Iraq has today signed an historic agreement with the United Nations Development Program (UNDP), committing USD 33 million for stabilization activities across the country. Administered through UNDP’s Funding Facility for Stabilization (FFS), the contribution will be used to rehabilitate essential infrastructure […]
By John Lee. The Iraqi Ministry of Finance has reportedly approved the expenditure of $60 million for rehabilitation of Kufa Cement Plant in Najaf. More here. (Source: Thompson Reuters Projects News)
By John Lee. Al-Fanar Media has published a report entitled "Corruption Sidetracks Projects Intended to Make Baghdad a ‘Capital of Arab Culture”". The article was first published in Arabic on the pan-Arab news site Daraj, with support from Arab Reporters for Investigative Journalism (ARIJ). Click here to read the full report in English. (Source: Al-Fanar […]
By John Lee. Scottish-based engineering firm Wood Group plc has said that its operations in Iraq will see increased activity. In its half-year results for the six months ended 30 June 2019, the company said: "Growth in 2019 will be led by Operations Solutions, where we expect increased activity in Iraq with customers including Basra […]
By John Lee. A Chinese company has reportedly signed a $1.39-billion construction contract in Iraq. According to Xinhua, China Construction Third Engineering Bureau will implement civil engineering projects and infrastructure in southern Iraq, including low-cost housing, education, medical centres, and facilities projects in governorates of Najaf, Karbala and Basra. (Source: Xinhua)
For generations of Iraqis, playing a meaningful role as an active member of civil society was fraught with risks. While many challenges remain, now, with the retreat of ISIL from Iraq, there has never been a better time to reassert the powerful role of civil society at the forefront of national development. Given the country’s […]
By John Lee. Pakistan-based Attock Cement (PSX: ACPL) has reportedly made investments in a cement grinding unit in Iraq. According to Business Recorder, the investment was made via a joint venture with the Iraq-based Al Geetan Commercial Agencies to form a subsidiary, a limited liability company. Attock's holds 60 percent of the company. The mill […]
