Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
ABB, the leading power and automation technology group, has won orders worth around $120 million from KAR Construction and Engineering Company Ltd. to design and build a power plant and construct two 400/132 kilovolts (kV) high-voltage substations that will supply power to the Kurdistan region of Northern Iraq. The 640 megawatt (MW) open cycle power […]
Bloomberg reports that billions of dollars in Iraqi reconstruction projects may be wasted as the U.S. transfers them to the Iraqi government. Special Inspector General for Iraq Reconstruction (SIGIR), Stuart Bowen (pictured), told the US's House Oversight Committee: “There remains a vulnerability that thousands of projects [completed with $51 billion in American reconstruction funds] will […]
The US House Oversight Committee held a hearing to assess the transition of control in Iraq from a military to a civilian-led mission. Witnesses included: The Honorable Patrick Kennedy, Under Secretary for Management, U.S. Department of State; Mr. Peter Verga, Chief of Staff for the Under Secretary for Policy, U.S. Department of Defense; The Honorable […]
Bloomberg reports that Iraq has agreed a $245 million contract with IIAJ Ltd, of the the United Arab Emirates, to build 1,083 housing units in Diwaniya. The al-Zahra residential compound is to be completed within two years on the southwestern side of Diwaniya city, a spokesman for the Diwaniya Investment Commission told the news agency. The […]
Iraq's State Company for Oil Projects (SCOP) will offer the construction of the Kirkuk oil refinery to international companies on a build, operate and own (BOO) basis in December 2012, according to a report from Steel Guru. The report quotes Mr Salar Ameen, deputy chairman of the National Investment Commission (NIC) as saying that "feasibility […]
Basra will soon become the scene of multi-billion dollar construction projects to be implemented by major foreign firms, according to a statement issued by Basra Investment Commission. According to a report from Azzaman, most of these projects will be in the city of Basra, giving it more than 70,000 new, modern apartments for low-income groups, […]
Babil Investment Commission [Babylon Investment Commission] has announced that a group of Italian, Ukrainian and French companies are interested in investing in the province. The deputy chairman of the Investment Commission, Abbas al-Tai, told Alsumaria News that the companies are considering construction and industrial projects, and that "the Commission has provided all the necessary facilities to […]
ABB, the leading power and automation technology group, has won an order worth around $75 million from the Ministry of Electricity of Iraq to extend an existing transmission substation in the Southern part of the country. The 400/132 kV (kilovolt) Amara substation will connect a new 500 megawatt (MW) gas based power plant as well […]
The KRG's minister of electricity, Yassen Shekh Abubakir Mawati [Yasin Sheikh Abu Bakir Muhammad Mawati] (pictured), has announced the creation of five hydro-electric and gas power plants in the region: Three hydro-electric power plants at Deraluk-Rashawa Dam, Mandawa-Kopala and Taqtaq; Two gas power plants with 200-megawatt capacity each in Qaladze and Harir. (Source: AKnews)
Iraq's communications regulator has decided to fine mobile phone operator Asiacell $8,500 per day since September 1, 2011 for failing to list on the local stock exchange, according to a report from Reuters. Ahmed Alomary, commissioner of Iraq's Communications and Media Commission (CMC), also told the agency that the regulator had also decided to fine […]
Iraq's Deputy Prime Minister, Roz Nouri Shawees [Rowsch N Shaways] (pictured), has praised relations between Iraq and Russia in all fields, but particularly in the oil and gas sectors. In an interview with Russia Today TV, he said that "Iraqi doors are open to all Russian companies". He pointed out that Iraqi oil bids are transparent, and […]
Delegates to CWC‘s Iraq Petroleum 2012 conference in London last week received an update on the country's refining capacity and plans from H.E.. Dr Bayazeed Hassan Abdullah, MP, member of the Oil and Energy Committee of the Iraqi Parliament. He said the twelve existing refineries have a combined capacity of up to 886,000 barrels per […]
