Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
As part of its visit to Lebanon, the delegation of the Iraqi banking sector, which includes 22 officials from the Central Bank of Iraq and Iraqi banks as well as some members of the project and financial development project in Iraq, visited the Association of Banks in Lebanon on Thursday 7 July at 11:30. BDL […]
Iraq's National Investment Commission (NIC) presented investment opportunities in 16 key economic sectors to a formal gathering of around 170 Iranian firms and businessmen on Wednesday in Baghdad. The sectors proposed include Iraq’s infrastructure, industry, agriculture, communications and transportation. Sami al-Araji (pictured), head of the NIC, told reporters at a press conference in the Baghdad […]
AKnews reports that the German energy firm MBH has landed a $625 million contract to build five 100-MW power plants in Nineveh province. The Iraqi electricity ministry announced the deal on Wednesday, saying that the project is expected to be completed in 21 months. The establishment of the plants is part of the government’s plan […]
Iraqi Transportation Minister Hadi al-Amari (pictured) said on Wednesday that neighbouring Kuwait must stop work on its Mubarak port project because it will block Iraqi access to shipping lanes, according to a report from AFP. “The construction of this port ... demonstrates the clear intention of Kuwait to block shipping lanes from Iraqi ports and […]
The Iraqi economy is suffering due to a lack of properly trained managers, an Iraqi business leader said on Monday. The head of the Iraqi businessmen federation in Basra, Sabih Habib al-Hashemi, told AKnews that the management situation means that Iraq's resources are not being properly exploited. "Most of the economic issues in the country […]
Alstom Grid has been awarded a €80 million contract from Calik Energy [Calik Enerji], a leading Turkish energy company, for the supply of electrical transmission equipment to be installed in two power plants being built in Iraq by Calik Energy. This contract is considered the largest one to date for Alstom Grid in Iraq. The […]
A project to build a 22km urban rail network in the Iraqi capital has been put on hold due to a lack of funds, an advisor to the Transport Ministry said on Tuesday. Karim Nouri told AKnews that the cost of the project exceeds this year’s federal budget allocation. The 14-station metro line was intended […]
Iraqi Media reports that a British company called 'Mayfair' has proposed a $300 million housing project to Basra Investment Commission. Other sources suggest that the company is in fact the Indian-based Mayfair Housing. Head of the BIC Haider Ali Fadel reportedly said the project would be funded by the World Bank. The project includes the […]
The Turkish ambassador to Iraq, Murat Ozcelik, said Turkey is seeking to strengthen trade relations with Iraq through establishing a large investment base in the oil-rich port city of Basra. Turkey is eyeing Basra as a launchpad for its investment and trade development in the south of the country, according to Ozcelik . ‘There are […]
Iraq has signed a $1.2 billion contract with Canada's Capgent to build 10 power stations with a total capacity of 1,000 megawatts in a bid to meet local demand, Reuters reports. A ministry spokesman told AFP that the plants were to be constructed within 12 months in the provinces of Anbar, western Iraq, and in […]
By Marko Lukic. In October of 2010, Move One reported on the economic recovery of Basra as the first wave of post-war energy exploration companies set up operations and introduced a level of prosperity and stability that has not been seen in years. Since then the city has become a focal point for foreign investment […]
Mott MacDonald is owner’s engineer for the conversion of Arbeel Power Plant in Erbil, Iraq from simple cycle to combined cycle. The project, on behalf of Mass Global Investment Company (MGI), will be the first combined cycle gas fired plant in Iraq. The existing plant consists of eight 9E gas turbines, manufactured by GE, operating […]
