Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. A Malaysian company has been awarded a contract worth $86 million to design and build the Al-Zuhour Water Project in Baghdad. According to a report from Bernama, the Ho Hup Construction Company Bhd won the 10,000 cubic metres per hour capacity turnkey project, awarded by the Ministry of Municipalities and Public Works, […]
By John Lee. KAR Group, an Iraqi integrated oil and gas company, has announced the third expansion of their Kalak Refinery to 185,000 barrels per day (BPD). Process units and utilities are being provided by Ventech Engineers LLC of Pasadena, Texas. Ventech has provided modularized crude-distillation units, naphtha hydrotreaters, catalytic reformers, isomerization units, demercaptanization systems, […]
Pell Frischmann has won a contract in Iraq for the design of a $85 million water project in Anbar province, according to a report from Bloomberg. The U.K.-based consulting company will designs a new water station in Hadeetha (Haditha), which will pump 4,500 cubic meter of water an hour to surrounding towns, within two years. […]
By John Lee. The KRG has signed contracts worth $700 million (840 billion Iraqi dinars) with South Korea’s Posco Engineering & Construction Company and the Korea National Oil Company (KNOC) to build a power station and tranformer. Posco will build the plants and KNOC will finance the projects in line with terms of its 2008 […]
By John Lee. Iraq has signed contracts worth a total of $152 million with four European companies to build medical facilities throughout the country. Sorima Hospital Development of Italy, Ermedi International of France, Viessmann Technologies GmbH of Germany, and HT Labor & Hospital Technik AG, also of Germany, will each build 19 operating theaters. Qais […]
By Padraig O'Hannelly. With increasing commercial activity in Iraq, much of it by foreign-based investors, there's a growing market for adequate insurance to cover the risks. But in a country emerging from years of chaos, how can you be sure that the insurance you buy is legal and valid? To help clarify this point, Iraq […]
By John Lee. The Undersecretary of the Iraqi Ministry of Labour, Dara Yara, has said that unemployment in Iraq will be eliminated by 2016 under a new “strategic plan”. According to the Labor Ministry’s figures, about 16% of Iraq’s workforce is unemployed, but other estimates put the figure much higher. “We are working on eliminating […]
By John Lee. Japan’s International Cooperation Agency (JICA) has told Utilities Middle East that reports that the organisation had agreed a US $2 billion loan for the construction of a new Iraqi power plant are inaccurate. Japan’s principal overseas development agency, was reported by both KUNA and AIN to have agreed the massive loan to […]
By John Lee. An Iraqi firm is to carry out the first big residential project in eastern Karbala, at a cost of $63 million (76 billion Iraqi dinars). Abbas Nasser Hassani head of the reconstruction and strategic planning committee of the Karbala council, told Aswat al-Iraq news agency: "An Iraqi firm was awarded the license […]
By John Lee. A Russian business delegation has visited the city of Ramadi to investigate investment opportunities in Anbar province. Saadoun Obeid al-Shaalan, head of the provincial council, told NINA news agency: "The delegation represents a group of leading Russian companies specialized in the manufacture of large power stations, the production and distribution of electricity, […]
By John Lee. Two contracts have been signed with a company from the United Arab Emirates to invest in the Zubair Free Zone, according to a report from Aswat al-Iraq. AIN names the company as "Oren Hidrocker Pons", and says it is a specialist in the chemical industry. One project is described as "commercial", the […]
By John Lee. The Head of the Greek company Metka, John Mytilineos, met with Iraq's Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, to discuss the building of the new Shat al-Basra power station. A statement by Shahristani's Office, reported by AIN, said: "Shahristani urged during the meeting the Company to assume suitable immediate procedures […]
