Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. The Iraqi private banks association has announced an increase of half-a-trillion Iraqi dinars in funding to enhance the role of the private sector and the developmentof small and medium-sized enterprises (SMEs), and to increase job opportunities. According to the report from Shafaaq, this brings the funding available to 1.5 trillion Iraqi dinars […]
By John Lee. According to data released by the Turkish Statistics Institute (TÜİK), Iraqi citizens purchased 763 houses in Turkey in July and August, making Iraq the biggest foreign buyer of houses in Turkey. Iraq was followed by Saudi Arabia with 504 houses, Kuwait with 373 houses, Russia with 350 houses and the U.K. with […]
By John Lee. A meeting of the Iraqi cabinet on Tuesday authorised the Minister of Industry and Minerals to negotiate with the French company Lafarge concerning investment in the Karbala cement plant (pictured). The Minister will put the results of the negotiation to the Prime Minister for approval. (Source: Office of the Prime Minister)
By Robert Tollast. Attending a great live music event is something many of us will share on Facebook-- well that's if you're the type who loves social media. Some go further and spend the entire concert trying to film it on their phone or live tweeting and talking loudly...but enough about those people. When the […]
Canada's SNC-Lavalin has announced the award of a contract to Kentz, a member of the SNC-Lavalin Group, by ExxonMobil, for a new oil processing facility to increase production at its West Qurna 1 oil field in Iraq. Kentz, with its regional partner, is providing the front-end engineering design (FEED), detailed design engineering, procurement, fabrication, construction, […]
The Iraqi Ministry of Planning has opened a new Procurement Help Desk to streamline the tendering process. Speaking at the opening of the facility, US ambassador Stuart E Jones (pictured) made the following statement: "Thank you for those excellent remarks and thank you for your support to the USAID and embassy teams that have been […]
By John Lee. Eighteen Turkish employees of Ankara-based construction company Nurol Insaat have been kidnapped in Baghdad. Masked men in military uniforms reportedly stormed the construction site, where the workers were sleeping in caravans, and bundled them into several SUVs early on Wednesday. The men were working on the construction of the new sports complex […]
By John Lee. Iraq's Ministry of Electricity has invited investment in a new power station at al-Yusufiyah, in Baghdad. The contract for the 1200-1400 MW plant will be granted on a build, own and operate basis. Further details are available from the Ministry of Electricity: [email protected] (Source: National Investment Commission) (Electricity image via Shutterstock)
By John Lee. Austrian-based Andritz has won a contract to supply 121 pumps and 18 booster stations for a new drinking water treatment plant in Samawa, Iraq, on behalf of PWT Wasser- und Abwassertechnik, Germany. The new plant will pump up 220,000 m³ of water from a branch of the river Euphrates, which will then […]
By John Lee. On Thursday the Prime Minister Dr. Haider Al-Abadi held a meeting in his office with the Japan International Cooperation Agency (JICA) to discuss projects to provide drinking water to the province of Basra. During the meeting, there was a follow-up on the water desalination project in al-Hartha in Basra. Dr. Abadi stressed […]
By John Lee. The Ministry of Electricity has reportedly signed a contract with the German company Siemens for the provision of that includes processing equipment, civil works and the rehabilitation of four 132 kV substations in Baghdad. Shafaaq News reports that the contract includes processing equipment and the execution of civil works for the four […]
By Robert Tollast. An interview with Mohamed Ridha, of the Baghdad entrepreneurial tech collective Fikra Space. So what on earth is a hackerspace? Since the essence of the concept is open source, it seems apt (although not so professional!) to quote Wikipedia, which has the most succinct definition. According to the page a hackerspace is, […]
