Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
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 […]
Ukraine is preparing to ship a second batch of 62 BTR-4 armored personnel carriers to Iraq,, reports Kyiv Post. The BTR-4s were assembled at the Kharkiv facility under a contract worth more than $550 million for the supply of Ukrainian military equipment to Iraq. The deal was finalised in 2009 by a state-run subsidiary of Ukrspecexport. […]
Working-at-height specialist Simian Risk has won a contract to provide on-site training for Shell and the South Oil Company in Iraq. The UK-based consultancy firm, which launched in 2005, will provide bespoke scaffolding and work at height training and supervision at a new oil field site in Southern Iraq. Simian Risk will be working closely […]
Iraq's minister for construction and housing plans to spend $9.8 billion on roads, bridges and housing between now and the end of 2016, reports Bloomberg. Mohammad Saheb al-Darraji (pictured) said the country is budgeting $5.8 billion for roads and bridges and $4 billion for housing. The current annual budget is $112 billion. The country needs 2.5 […]
Construction Tech, part of the UAE-based Tech Group, has won two significant deals in Iraq totaling over $47 million, according to a report from Trade Arabia. The bigger of the contracts is a $45 million deal to revamp the Central Bank of Iraq, while there is also a $2.15 million agreement with Shell to support […]
Sarmad Al-Khudairi, CEO of Al-Fayha Building Solutions, one of the biggest industrial contractors and service providers in south Iraq, is focusing resources on its precast concrete business in response to soaring demand, according to a report in Construction Week. He told CW in an interview: “We are focusing on our main business, which is the […]
Sami al-Araji, chairman of Iraq’s National Investment Commission (NIC), has told Bloomberg that Iraq will soon sign a $7 billion agreement with South Korea’s Hanwha Engineering & Construction Corporation [Hanwah] to build 100,000 housing units in the country. The commission is also due to sign a contract with the UAE-based Bloom Properties to build 40,000 […]
Bloomberg reports that Iran Khodro, the country’s largest carmaker, plans to manufacture 30,000 cars at its production site in Iraq this year. The company is delivering components to the plant for assembly, mostly for the Samand sedan model (pictured). Operations at the plant, which has received investment from a local partner, started in 2011, the […]
Hill International, the global leader in managing construction risk, announced on Monday that it has been awarded a contract by the Iraq Ministry of Youth and Sports to provide project management services in connection with construction of the new Al Risafa Sports Stadium in Baghdad, Iraq. The three-year contract has an estimated value to Hill […]
