Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. Anbar officials estimate that the reconstruction of Ramadi, recently liberated from the Islamic State group (IS, ISIS, ISIL, Daesh), will cost $10 billion (12 trillion Iraqi dinars), as the government says that about 80 percent of the city has been destroyed. According to the report from the Wall Street Journal (WSJ), Iraqi politicians […]
The Annual Forum of the UK's Al-Kindi Society for Engineers takes place in London on Saturday 9th January, and it promises to be an essential event for all in the industry. Chaired by Dr. Subhi Al-Azzawi and Dr. Caecilia Pieri, the Forum will address the topic of Iraq Architecture and Planning, and will include speakers […]
Prime Minister Dr. Haider Al-Abadi received in his office on Sunday a delegation from the Korean company Hanwha which is implementing the Bismaya residential project. The delegation gave a presentation on progress reached on the ground for the project, where the first three thousand residential units to best standards have been completed in full, with […]
The Kingdom of Norway and the United Nations Development Programme (UNDP) signed a $1.8 million partnership agreement today to support stabilization in newly liberated areas in Iraq. Norway’s contribution will be channeled through UNDP’s Funding Facility for Immediate Stabilization (FFIS), which finances fast-track initiatives in areas retaken from the Islamic State of Iraq and the […]
Terex Port Solutions (TPS) has received an order from a subsidiary of International Container Terminal Services, Inc. (ICTSI) in Iraq for two Terex ship-to-shore cranes (STS) and three Terex rubber-tyred gantry cranes (RTG). With this order including comprehensive services, TPS and ICTSI, a leading global port operator, are writing the next chapter in the history […]
On November 22-23, Deputy Secretary of State Antony Blinken (pictured) traveled to Iraq to discuss a range of political, security, and economic issues with government officials. While in Baghdad, Deputy Secretary Blinken met with Prime Minister Haider al-Abadi, Speaker of Parliament Salim al-Jabouri, and other senior officials. During his meetings, Deputy Secretary Blinken reaffirmed the […]
Wood Group has won a new contract worth approximately $90 million to deliver services to one of the world’s leading blue-chip international oil companies (IOC) in Iraq. Wood Group PSN (WGPSN) will provide project management for an onshore facility under the three year contract, which is effective immediately. Concept and FEED work for future projects […]
By Robert Tollast. The following opinions are the author's only, and do not necessarily represent the views of Iraq Business News. Despite the grim headlines, the main challenge for doing business in many parts of Iraq is not really security, it is still bureaucracy and a lack of clarity regarding who is responsible for different […]
The Chairman of Iraq’s National Investment Commission (NIC), Dr. Sami Al-Araji, has signed the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention). Iraq has become the 160th country to sign the Convention and the 152nd country to become a member of the International Centre Settlement of […]
In a ceremony attended by Japanese new Ambassador to Iraq, Mr. Fumio Iwai, KRG Prime Minister Nechirvan Barzani inaugurated the 36 megawatt hydropower project near Deralok town in Duhok Governorate. The project is funded by the Japan International Cooperation Agency (JICA) within the framework of Japan’s loan to Iraq. Earlier last week, Prime Minister Barzani […]
By Simon Kent. Bloom Properties, subsidiary of Dubai based Abu Dhabi National Holding, has delayed construction of a 40,000 housing unit project in Karbala. The site, dubbed "Shores of Karbala" (pictured: plan of the site) was announced in 2013 with former PM Nouri al Maliki attending a ceremony to mark the signing of the contract, with […]
By Simon Kent. Basra provincial council has reportedly hired international consultancy firm Mott MacDonald to finalise plans for a 3500ft, 240 floor building which would be host to business communities, residents and public entertainment. According to designers AMBS Architects, the "city in the sky" is designed to be an "antidote" to modern super towers in […]
