Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. The second session of the Iraq-Lebanon Joint Committee was held on Thursday in Baghdad, chaired by Iraqi Minister of Trade Dr Atheer Daoud al-Ghurairi and Lebanese Minister of Economy and Trade Dr Amer al-Bassat, with participation from representatives of both countries' private sectors. The meeting resulted in the signing of an agreement […]
By John Lee. The Kurdistan Regional Government (KRG) has completed the [Shaikan] Sheikhan-Lalish road project in Duhok Governorate, which will soon be opened to the public. The road spans 9 kilometres in length and 25 metres in width, with a total investment exceeding 26 billion Iraqi dinars [≈ $17.8 million]. Constructed to modern engineering standards […]
By John Lee. Hiwa Rauf for Investment & Development (HRID) and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a financing partnership mandate for Downtown Slemani, Iraq's first certified sustainable mixed-use real estate development. The agreement was announced during IFC Partnerships Day in Iraq, held under the patronage of […]
By John Lee. Iraqi Prime Minister Mohammed Shia Al-Sudani has inaugurated the Al-Nisour Square development project in Baghdad, part of the government's first package of traffic decongestion initiatives in the capital. The project was executed by China's Transtech Engineering Corporation, an independent legal entity of China Railway International Group, which in turn is described as […]
IFC Marks 20 Years of Partnerships for Impact in Iraq, Announces $1bn in New Investments The International Finance Corporation (IFC), a member of the World Bank Group, held an IFC Partnerships Day in Baghdad on Saturday, under the patronage of His Excellency Mr. Mohammed Shia' al-Sudani, Prime Minister of Iraq, to mark two decades of […]
By John Lee. TotalEnergies, in partnership with Basra Oil Company (30%) and QatarEnergy (25%), has signed the final contracts of the Gas Growth Integrated Project (GGIP) at the Ratawi [Artawi] field in Basra, under the patronage of Prime Minister Mohammed Shia al-Sudani. The agreements include: a joint operating contract between the Ministry of Oil, Basra […]
By John Lee. The Iraqi Cabinet has approved key contracts as part of efforts to advance the development of the Artawi oilfield. The Council of Ministers endorsed the award of the Networks and Well Platforms (NWP) tender for Phase Two of the field to Sinopec, the Chinese oil services company. It also approved an exception […]
By Jon Wilks, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Dispatch from Basra: Glimpses of hope in Iraq's forgotten south There is perhaps nowhere else where the high hopes of the new Iraq were so dashed as in […]
From The Economist. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The World's Surprise Boomtown: Baghdad Iraq's population has grown by 20 million since America's invasion. Read the full article here (subscription needed).
By John Lee. The Iraqi Cabinet has approved a mechanism to address the outstanding dues of companies investing in the electricity sector. The decision authorises the Trade Bank of Iraq (TBI) to take the necessary steps to purchase debts owed to investment companies against amounts due from the Ministry of Electricity. The State Oil Marketing […]
By John Lee. US-based consultancy K2 Integrity (K2i) has announced a strategic partnership with state-owned Rafidain Bank, Iraq's largest financial institution, to establish a comprehensive financial integrity program. According to a press release from K2 Integrity, the program will align with international standards of compliance, governance, and risk management. The three-year collaboration marks the beginning of […]
By John Lee. The National Investment Commission (NIC) has granted the investment licence for the Baghdad Hills project, one of the largest residential, recreational, and commercial developments in the capital. Located in the Al-Rafeel area of Baghdad, the project will feature 6,333 apartments distributed across 50 towers of 19 floors each, alongside 2,300 standalone villas. […]
