Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. During a visit to Basra, the Iranian Transport Minister, Abbas Akhwandi, has signed a Memorandum of Understanding (MoU) with the Governor of Basra, Majid al-Nasrawi, to lift sunken ships in the Shaat al-Arab waterway. According to a report from AIN, the two also laid the corner stone for a railway project linking […]
By John Lee. Iraq's Transport Minister has said that companies from the UAE, Iran, Turkey and China have offered to invest $7.4 billion dollars (8.6 trillion Iraqi dinars) for the development of the Grand Faw (Grand Fao) port project. Baqir Al Zubeidi told al-Forat news agency that the investment would cover the construction of quays […]
By John Lee. Iraq's Ministry of Electricity, in coordination with the National Investment Commission (NIC), have announced an investment opportunity to construct three solar power stations and one wind power station. The plants will capacity of between 5 and 10 MW, and be situated in Diwaniya, Najaf and Missan (Maysan) provinces: Diwaniya: A solar power […]
By John Lee. Fund has reportedly been agreed for the new Imam Hussein Airport in Karbala. Emirates 24|7 cites local sources as saying that international firms will soon be invited to bid for the project. Land has already been allocated for the project, which Zuhair Abu Dakkah, a member of Karbala’s governing council, described as […]
By John Lee. The foundation stone has been laid for a $92-million (108-billion-Iraqi-dinar) project to build 716 apartments in Dhi Qar, following the resolution of land disputes in the area. The Kashmara-1 project is being undertaken by the Al Mansour Company for Constructional Contracts, an affiliate of Iraq’s construction and housing ministry, and the UK’s […]
By John Lee. Karbala [Kerbala] governorate is reportedly planning to build an industrial city to attract local and foreign capital into the manufacturing sector. The province's deputy governor, Jassim Al-Fatlawi, has said that an agreement has been signed with the Ministry of Industry to create the infrastructure. Karbala’s government is to allocate the land for […]
By John Lee. South Korea's Hanwha Group has reportedly won a $2.12-billion (2.5-trillion-Iraqi-dinar) order to build the social infrastructure for Bismayah New City. According to Yonhap News Agency, the agreement was signed with Iraq's National Investment Commission (NIC) on Monday. The Group is currently building 100,000 homes at the project, which are due for completion […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 2nd April 2015). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,151 / $1,207 (+0.6%) (weekly change) ) (-17.4% and -18.5% YTD change, respectively). The number of week traded […]
By John Lee. Iraq has reportedly invited global investors to bid for its multi-billion-dollar Grand Faw port project. The Ministry of Transport put the project’s total cost at around $6.5 billion (7.6 trillion Iraqi dinars), adding that only "serious and financially able" companies can bid. The port has a planned capacity of around 99 million […]
By John Lee. A Lebanese company has launched a major construction project in Maysan governorate. Hariri Construction and Contracting Company (HARCO) was awarded the $80-milllion 'Luluat Al Amarah' (Pearl of Amarah) contract in late 2014, and has just started excavation at the site. It involves the construction of a five-star 16-storey hotel with 192 rooms, […]
The Iraq Britain Business Council (IBBC) Spring Conference 2015 will be held at the Mansion House on the 1st June and the Royal Overseas League on the 2nd June. Baroness Nicholson of Winterbourne, IBBC Executive Chairman and UK Trade Envoy for Iraq, the Executive Committee and Council Members, will welcome distinguished speakers such as H.E. […]
Mitsubishi Hitachi Power Systems (MHPS) has received an order from the Ministry of Electricity (MOE) of Iraq for refurbishment of Unit 4 (output: 200 megawatts) at the Hartha Thermal Power Station. The refurbishment work, scheduled for completion in May 2017, requires large-scale replacement of core components of the plant's seriously degraded power generation facilities. The […]
