Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
The National Investment Commission (NIC) has opened a center for the Bismayah New City project at the Baghdad International Fair. It will receive citizens registered and wishing to register for housing units in the project for the three sizes of housing unit: 100 m², 120 m², and 140 m². NIC Chairman, Dr. Sami Raouf al-Araji […]
Iraq's Minister for Planning and Development Cooperation, Ali Yusuf Al Shukri, has announced unemployment in Iraq of about 16%, with a poverty rate of about 11%, according to Alsumaria TV. “Poverty and unemployment rates are decreasing in Iraq after Iraqi GDP improved and investment in constructions and services projects increased,” Shukri told the news agency, stressing […]
Iraq's Minister for Planning and Development Cooperation, Ali Yusuf Al Shukri (pictured), has announced that the Planning Ministry is preparing a database of companies that are falling behind in service and construction projects. These companies, and their directors, will be barred from participation in future projects to be awarded by the Iraqi government. (Source: Alsumaria TV)
AKnews reports that Imad Ahmed, deputy for Kurdistan Regional Government (KRG)'s prime minister, laid the foundation stone of the $36m Hiwa Hospital for Children on Tuesday evening. The 150-bed charity hospital will be constructed on 35,000 square meters and from KRG's budget, the KRG website reported. The hospital will cater for patients from the prenatal […]
Iraq has signed a $55 million contract with Turkey’s Bilal Insaat to build 1,200 housing units in the northern province of Kirkuk, according to the Kirkuk Investment Commission. The residential compound, to be caalled New Haweeja City, will be completed within 30 months in al-Haweeja town in Kirkuk province. According to the report from Bloomberg, […]
Iraq's Minister for Construction and Housing, Mohammed Sahib al-Daraji [Muhammad Sahib Al Darraji] (pictured), met with the German ambassador in Baghdad to discuss cooperation on road projects, bridges and the construction of residential complexes. Minister Al-Daraji said: "German companies have a great reputation in the field of processing modern equipment and machinery. Iraq is about to […]
The Bulgarian Prime Minister, Boyko Borisov, has reportedly negotiated a deal for the supply of 500 MT-LB armoured vehicles to Iraq. According to a report from the Bulgarian Telegraph Agency (BTA), the deal was sealed on Thursday in the presence of Iraq's Acting Minister of Defence, Sadun al-Dulaymi Minister, (Sadoun al-Dulaimi), at the Hemus 2012 International […]
AKnews reports that Iraq's Ministry of Industry has signed a £3-million contract with a Turkish company for the production of fire extinguishers. The company signed the deal with Iraq's state-owned al-Kanadi company, which is headed by Yousuf Hussein Yousuf. "The contract came within the allocations of the investment plan for the years from 2010 until […]
According to a report from Bloomberg, Iraq has signed the contract with South Korea’s Hanwha Engineering & Construction to build 100,000 residential units in Baghdad. Salah Abdul Razzaq, Baghdad’s governor, said more than 30,000 people are registered for the units so far, adding that the project will secure 100,000 jobs. Previous reports put the value […]
An Iraqi Oil Ministry spokesman announced on Wedesday that an oilfield has been discovered in Iraqi territorial water. Assim Jihad told Aswat al-Iraq that it expects to offer the site in the coming oil rounds. This is Iraq's first offshore oilfield. The site was numbered "18", but not exploited due to problems with mines, which […]
The Iraqi Prime Minister, Nouri al-Maliki, received a delegation on Monday from the World Bank, headed by its Regional Director Mr. Hedi Larbi. During the meeting, Maliki called on the World Bank to support Iraq by sharing experience and providing training for the Iraqis that will contribute to the planning and management of the Iraqi […]
Iraq's General Company for Maritime Transport, owned by the Transport Ministry, has taken delivery of its new ship , the Baghdad, at a formal ceremony in Shanghai, China. The vessel is 116 meters long and can carry 7,850 tons of cargo. The ship will cost $14m (16.3bn IQD), which will be paid to the Chinese […]
