Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Italy Provides Additional Funding for Stabilization Activities in Liberated Areas The Italian Republic is contributing an additional US$4.91 million (€4.5 million) to UNDP’s Funding Facility for Immediate Stabilization (FFIS), which finances fast-track initiatives in areas liberated from the Islamic State of Iraq and the Levant (ISIL). This follows a contribution of $2.72 million (€2.5 million) […]
By John Lee. Philippines-based International Container Terminal Services (ICTSI) is investing $130 million in Umm Qasr port, according to a report from Reuters. The Manila-based port management company signed a contract with General Company for Ports of Iraq involving the container facilities at Umm Qasr; it will operate, develop and expand the port. The three-stage […]
United States and Government of Iraq Work in Partnership to Improve Management of Public Funds On Thursday, June 2, U.S. Ambassador Stuart Jones (pictured), together with the Minister of Planning Salman al-Jumayli, and Chief of Staff for the Prime Minister’s Office Dr. Mahdi al-Allaq, participated in the Ministry of Planning (MOP) conference entitled “Reforming Development […]
The Governorate of Duhok launched its Provincial Development Strategy 2016-2018 in a ceremony organized in collaboration with the United Nations Development Programme (UNDP), the European Union (EU), and NOREL non-governmental organization. Conceptualized with the support of UNDP’s EU funded Local Area Development Programme (LADP), the Strategy seeks progress in six areas: Multi-sector economy, geographical location, […]
By John Lee. India's BGR Energy Systems has said it has decided to cancel a carryover contract value of $246 million relating to its contract to build a power plant in Nasiriya. The company won the contract for the 500-megawatt (MW) gas turbine plant in 2013. Iraq's Ministry of Electricity provided a letter of credit […]
By John Lee. AECOM Technical Services has been awarded a $52,805,043 firm-fixed-price contract for architectural and engineering services to repair the bottom outlet of the Mosul Dam, Iraq. Bids were solicited via the Internet with one received, according to a statement from the US Department of Defense. Work will be performed in Iraq with an […]
By John Lee. The secretary of Iran's Cement Industry Employers Association has said that Iraq has promised to remove its ban on the import of Iranian cement. Fars news agency quotes Abdolreza Sheikhan as saying that following several meetings between Iranian and Iraqi officials, Baghdad promised to give priority to Iranian exports, once general ban […]
By Simon Kent. Fahd Al Hammadi, Chairman of the Federation of Arab Contractors, has called upon more Arab businessmen and entrepreneurs to engage in the reconstruction of Iraq. At a conference in Amman over the weekend, Hammadi noted, “Currently, there are opportunities for investing in projects worth around $22 billion in Iraq in infrastructure and […]
By Ali Mamouri for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq finds itself facing a major political crisis, as parliament is obstructed, the formation of Prime Minister Haider al-Abadi's new cabinet has yet to be completed and popular protests continue to demand radical reform to the legislative, executive and judicial branches. The […]
Finland contributes funding to accelerate stabilization in newly liberated areas The Republic of Finland is providing US$1,13 million (€1 million) to the United Nations Development Programme (UNDP) to support stabilization in areas newly liberated from the Islamic State of Iraq and the Levant (ISIL). The Finnish contribution will be allocated to UNDP’s Funding Facility for […]
Wyndham Hotel Group has announced plans for two new hotels in the Iraqi holy city of Najaf, in a deal announced with Bukhamseen Group For Real Estate, Tourism, General Trading & Contracting Company. Located just 800m from the Imam Ali Holy Shrine, the third holiest site for the estimated 200 million followers of the Shia […]
Germany has contributed an additional US$3.9 million to UNDP’s Funding Facility for Immediate Stabilization (FFIS), which finances fast-track initiatives in areas liberated from the Islamic State of Iraq and the Levant (ISIL, ISIS, Daesh, IS). This contribution brings Germany’s total financing of the Facility to $16 million. Based on priorities identified by local authorities, UNDP helps to quickly […]
