Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. John Crane, part of Smiths Group, has announced it will supply Italian pump designer Termomeccanica Pompe (TMP) products from across the company’s portfolio for the development of the Zubair Oil Field, one of largest in Iraq. The agreement covers mechanical seals and systems, high-performance couplings and hydrodynamic bearings used in the 24 centrifugal […]
The Iraqi government has reportedly approved a $256-million submission from Dutch shipbuilder Kuipers to supply it with eight cargo ships. The eight vessels, comprising three 55,000 dwt bulkers, three 1,200 teu container carriers, and two 18,000 dwt multi-purpose vessels, are due for delivery two years from the date of signature of a final contract. According […]
South Korea's Hanwha Chemical Corporation has announced that it has signed a letter of intent (LOI) to build a petrochemical plant in Iraq. South Korean news agency Yonhap reports that the LOI was signed in Seoul by the president of Hanwha Chemical, Bang Han-hong (pictured), and Iraq’s Deputy Minister of Industry, Mohammad Zain. Hanwha will build […]
A contract has been signed between the Lebanese company ViecoEast and Iraq's Al Fajr for waste water treatment plants. Delivery starts in January 2014. Vidoe of the signing can be viewed below: (Source: ViecoEast)
From The World Bank. A new project will reduce traffic fatalities by nearly 25 percent on two transport corridors connecting Iraq to its northern, southern and western neighbors and beyond. The US$355 million Iraq Transport Corridors Project, approved by the World Bank Board of Directors on Thursday, will improve road quality and safety and promote […]
By John Lee. Energy Global reports that the Turkish construction firm EID Insaat is to build a 120-km pipeline for ExxonMobil in Iraq. The $90-million project is expected to take approximately one year to complete. The company Chairman said that this was in addition to an 85-km long pipeline project currently under construction. The Iraqi […]
By John Lee. Aljazira Capital has raised its rating on Astra Industrial Group to overweight from neutral after the Saudi industrial conglomerate started a new steel millin Iraq. The Jeddah-based investment bank was initially expecting the melt shop of 450,000 metric tons/year of billet and mill of 300,000 mt/y of rebar to begin operations in […]
By John Lee. The Iraqi government of has approved plans to build a $472-million industrial city in Anbar Governorate. According to Zawya, a spokesman for the General Directorate for Industrial Development (GDID) said the contract to develop this project has been awarded to the State Company for Industrial Design and Construction (SCIDC). Dedicated to small […]
By John Lee. The Basra Investment Commission has reportedly approved a number of projects including the construction of a 25-storey hotel and a shopping mall. According to a report from Zawya, Commission Chairman Ali Gasib said the luxury hotel would be located near the Shatt Al Arab river, while the shopping facility would be situated […]
By John Lee. A Malaysian firm has won a 71-billion Iraqi dinar ($61-million) contract to develop the southern area of Kut in Wasit [Wassit] province, according to a report from Al-Shorfa. Wasit governor Mahmoud Talal said: "The contract includes developing and rehabilitating the southern neighbourhoods of town by developing and paving streets and implementing water, […]
Hitachi today announced that it has received "a comprehensive order" from the Iraqi Ministry of Municipalities and Public Works for the engineering, procurement, and construction (EPC) of a large-scale water treatment desalination plant in Basra. The winning consortium consists of three companies: Hitachi, OTV (a water processing plant manufacturer and subsidiary of the French environmental […]
By John Lee. The United Nations reports that, based on the conference held in Baghdad on 9th December, Iraqi youth recommend the following to the Iraqi Government: Fair Trial To establish an independent judicial board to investigate cases that were decided based on vague evidence and to ensure public re-trial. To abolish the practice of […]
