Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. The National Investment Commission (NIC) has awarded India's Welspun Corporation an investment licence to establish a factory for the production of iron welded pipes in Basra province. A press release from the Council of Ministers says that the cost of the project is $450 million [dinar?]. (Source: Cabinet)
By John Lee. Foreign Minister Hoshyar Zebari met with his Kuwaiti counterpart, Sheikh Sabah Al Khalid, in Riyadh to discuss relations between the two countries. Amongst the issues discussed were the compensation due to Kuwaiti Airways, the endorsement of the joint administration agreement for the navigation of the Khor Abdullah, and the start of the […]
The province of Basra has awarded Dewan Architects and Engineers the contract to design the sprawling Al Nakheel City, for which the foundation stone was recently laid. As a modern urban development, the Al-Nakheel City is expected to provide world-class and modern sustainable living, working, and living solutions for the population of Basra and help alleviate […]
By John Lee. Iraq’s Minister of Housing and Reconstruction, Mohamed Sahib al-Daraji [Mohammed Al-Deraji] (pictured), has announced that the Housing Fund has finalised contracts with nine investment companies to build new housing complexes. Together, these projects will provide 18,000 residential units. The minister added that the relevant engineering, technical and legal commissions are working on […]
AnaeCo and Repindo Resources have signed a MOU to cooperatively explore the implementation of AnaeCo’s DiCOM™ Alternative Waste Technology (AWT) at a suitable site in Basra. Under the terms of the MOU the parties will consider the technical and commercial feasibility of deploying AnaeCo’s patented DiCOM™ solution, under licence in Basra. AnaeCo would manage the […]
By John Lee. The Chairman of the National Investment Commission (NIC), Dr. Sami al-Araji, has signed a strategic memorandum of cooperation with the chairman of the Korea Trade-Investment Promotion Agency (KOTRA), O Young Hu [Young Ho Oh], to increase investment and trade between the countries. During his speech, Dr al-Araji reviewed the investment opportunities available […]
By John Lee. Peter Besley, director at London-based architecture practice Assemblage, has told Architects' Journal that despite winning the competition to design the £620-million Iraqi Parliament complex, there was still confusion as to who would actually be awarded the contract. The company feared losing the project to the firm run by Baghdad-born Zaha Hadid; a […]
This week marks the 150th edition of our Iraq Business News newsletter, and we are delighted to mark the occasion by bringing you a major new guide to business in Iraq. Published by Allurentis, in association with Iraq's National Investment Commission (NIC) and UK Trade & Investment (UKTI), the fourth edition in the annual New […]
By John Lee. A spokesman for Iran's Oil Ministry has confirmed that Iran is planning to build a pipeline to carry natural gas to Iraq and Syria. Alireza Nikzad Rahbar told Iran's PressTV on Wednesday: "Based on agreements already reached, a 56-inch pipeline is to be laid out from Assaluyeh [near South Pars Gas Field in […]
By John Lee. Iraq's Council of Ministers has allocated 9,600 acres to create a new residential city in Basra. The statement from the Council's secretariat says that the plan is to create 100,000 new residential units in the city. (Source: Iraqi Cabinet)
By John Lee. An American defense contractor has paid $5.28 million to resolve a case in which it was accused of mistreating detainees at Iraq's Abu Ghraib prison and other facilities. The 72 plaintiffs alleged that employees of L-3 Services, now called Engility Corporation, tortured and abused them. The abuses caused widespread outrage, and led to […]
By John Lee. Iraq's Council of Ministers has decided to ban the importation of busses with a capacity of 20 passengers or more that are more than 3 years old. It also decided to ban the importation of construction vehicles and ambulances that are more than five years old. (Source: Aswat al-Iraq)
