Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Money-Making Plots: Extremists Now In Real Estate Business In Mosul The Sunni Muslim extremist group that has taken over the northern city of Mosul has a new source of income: […]
By John Lee. Iraq's Minister for Reconstruction and Housing, Tariq al-Khikani (pictured), has laid the corner stone for a housing complex in Maysan [Missan]. According to a report from Aswat al-Iraq, the housing complex comprises of 708 housing units with a total value of 187 billion Iraqi dinars [$160 million]. (Source: Aswat al-Iraq)
By John Lee. The Mayor of Baghdad, Na'eem al-Ka'bi [Abub Naim al-Kaabi], has called on French companies to increase their participation in the capital's reconstruction projects, reports Aswat Al Iraq. In a meeting with the French ambassador to Baghdad, Mayor Ka'bi promised to provide all possible assistance to the French companies, and said that a […]
By John Lee. Turkish construction giant Enka has reportedly struck a deal with the Iraqi government to build two natural gas combined cycle plants in Baghdad and Sulaymaniyah. The two projects combined are expected to provide 3,000 megawatts to the Iraqi grid. According to the report from Daily Sabah, the deal, covering the construction of […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Tuesday. A total of $223,193,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. In its interim management statement issued on Tuesday, Russian-based HMS Group said that since the start of this year it has signed several contracts for business in Iraq. The contracts, which it values at about 1 billion rubles ($25 million; 29 billion Iraqi dinars), were signed with Russian and international oil and […]
By John Lee. The United States is reported to be planning to build three new military bases in Iraqi Kurdistan. According to BASnews, one of the bases would be in Erbil, another at Hareer military base north of Erbil, and a third Atrush, close to Dohuk. The Atrush base would be used for Apache helicopters. […]
By John Lee. Crompton Greaves Ltd (CG), part of the Indian company Avantha Group, has announced a $25-million new contract win for the design, construction and delivery of 16 mobile electrical substations. The order was placed by the General Directorate for Transmission, Upper Euphrates Region, Ministry of Electricity in Iraq. The key deliverables are engineering […]
By John Lee. Robt. Stone (ME) LLC (RSME) has to announced that it has signed a Joint Venture agreement with NSCC International Limited (NSCC), under the name of “NSCC-RSME”, to exclusively bid together for "projects of mutual interest beyond UAE with a particular focus on Iraq". The Joint Venture will primarily pursue EPC (Engineering, Procurement […]
By Robert Tollast. The following is an interview with an Iraqi finance professional with a degree in Accounting and Finance. He is also a Chartered Certified Accountant with extensive experience in Banking. He returned to Iraq in early 2013 and now works as a Portfolio Manager, travelling across Iraq but residing in the Iraqi Kurdistan. He was kind […]
Some of Britain’s most successful businessmen and women will fly to Erbil tomorrow (September 23rd) on a Trade Mission designed to show the UK’s continuing support for the resilience of the Kurdistan region of Iraq’s infrastructure, society and economy. Organised by the Iraq Britain Business Council (IBBC), the group will spend three days meeting senior […]
By John Lee. Iraq has agreed to increase cement imports from Iran. Jahanbakhsh Sanjabi Shirazi, the head of Iran-Iraq Joint Chamber of Commerce, told Fars News Agency: "As of September 1, each (Iranian) company can export 15,000t of cement into the neighbouring country from Shalamcheh, Chazzabeh and Mehran border terminals." He noted that the new […]
