Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
The Iraqi Cement Company made a profit of 16 billion dinar [$13 million], according to Aswat al-Iraq. "A major success has been achieved by the Ministry of Industry Minerals and the Iraqi Cement Company," a media spokesman for the Company's Director-General, Nasser al-Madani reported. "The Company had achieved more than 16 billion (b) dinar proft […]
By Tavish Scott, Member of the Scottish Parliament. This article was originally published by The Scotsman, and is re-published here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A familiar face walked across the hotel lobby. Former BP boss Tony […]
Shell, Mitsubishi and the Iraqi government have finally signed the $17.2 billion deal on Sunday to capture flared gas at Iraq's southern oilfields. The 25-year project is intended to boost production of badly needed electricity and reduce the environmental damage caused by flaring, as well as opening up the possibility of gas exports. It will harness […]
Reuters reports that Iraq has signed contracts worth $396 million with South Korea's Hyundai Engineering to build two new power plants. Laith al-Mamury, head of investments and contracts at the electricity ministry, said the plants will have a total capacity of 1,752 megawatts. There will be five units of 292 MW each in Rumaila, with […]
Basra's Provincial Council has approved a new board of directors for the Basra Investment Commission (BIC), according to AKnews. Council Chairman Sabah al-Bazouni (pictured) told the news agency that the council endorsed two public sector candidates, Aladdin Tahir Najem and Basil Abbas Ali, and three private sector candidates: Mazen Dakhel Abed al-Zahra, Adel Abdul-Amir Laftah […]
The Kurdistan Regional Government (KRG) is embarking on a water supply and sewerage programme worth $910 million USD (1 billion IQD), according to AKnews. Samir Abdullah [Samir Abdullah Mustafa, Samir Akrawi], Minister of Municipalities and Tourism (pictured), told a press conference that the Goptapa-Chamchamal water project will supply drinking water for 300,000 people in central […]
GE marked the opening of its dedicated office in Erbil, the capital of the Kurdistan Region of Iraq, with the first GE Day. The event underlined the company’s focus on strengthening public private partnerships, highlighted by the recent multi-million dollar, multi-year agreement with Mass Global Investment Company to support power distribution in Northern Iraq. GE […]
Reuters reports that Iraq signed a $349 million contract with Greek power plant builder Metka, a subsidiary of the Mytilineos Group, on Wednesday. The Shat-Al-Basra Power Plant Project will be a gas-fired, 1,250-MW power plant in southern Iraq. It comprises 10 units of 125 MW each, which were purchased from General Electric in a contract […]
Lafarge plans to triple cement production over the next two to three years at its plant in Karbala, according to Bloomberg. Eric le Blan, Acting Chief Executive Officer of Lafarge's partner MerchantBridge, told the agency that production at Karbala would increase from 576,000 tons of cement per year to at least 1.8 million tons by 2013 […]
British companies need to move fast if they are to gain a foothold in Iraq and avoid losing out to their competitors. This was the clear message given at the Middle East Association’s ‘Iraq: Untapped Opportunities’ conference held on 22nd November at the Dorchester Hotel, London. Supported by the National Investment Commission of Iraq, UK […]
At the 'Iraq: Untapped Opportunities' conference in London, Charles Hollis (pictured), Director General of the Middle East Association asked a panel of leading businessmen to make one suggestion each as to how Iraq can improve its development efforts. Hans Nijkamp, VP and Country Chairman for Iraq at Shell, said the authorities need to make a […]
This morning saw the launch of a major new guide to business in Iraq: Entitled "The New Iraq: 2012 Discovering Business", it was launched simultaneously in Dubai and at the "Iraq: Untapped Opportunities" conference in London. Published by Allurentis, in association with UK Trade & Investment (UKTI), the guide containes a wealth of case studies, […]
