Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Shares in Hill International (NYSE:HIL) jumped 59% on Thursday following the company's announcement that it has received a contract from TRAC Development Group, a South Korean real estate developer, to provide project management and construction management services in connection with a major housing development in Iraq. In addition, Hill's majority-owned subsidiary HillStone International, LLC has […]
The Iraqi government has allocated $2 billion [2.4 trillion Iraqi dinars] to build low cost housing for ‘limited income families’, the country’s Minister of Reconstruction and Housing, Mohammed Al Daraji, said during a press conference Baghdad.. The project should begin in 2012, provided that the Iraqi Cabinet determines the distribution mechanism. The minister said that […]
Iraq signed an agreement with the Korea Gas Corporation (KOGAS) to begin developing the Akkas natural-gas field, an Oil Ministry official said, ending seven months of delays in progress at one of the country’s biggest deposits of the fuel. Representatives of KOGAS and Iraq's Ministry of Oil signed the contract on Wednesday in a ceremony […]
Iraq's trade ministry has cancelled direct cash purchases of essential food items, such as sugar, wheat and rice, in a move to help prevent corruption, according to a report from Reuters. The change was announced as a 100-day target set by Prime Minister Nuri al-Maliki to improve his fragile coalition government's performance in the face […]
The potential business opportunities in the reconstruction of Iraq are very significant, especially for the construction industry. In this interview with Phil Blizzard, at MEED's Arabian World Construction Summit, the procedures for conducting business in Iraq are highlighted by Thomas Donovan, Managing Partner, IRAQ Law Alliance, who states that these procedures do vary between the […]
A five-year project for French engineering group Alstom to build an above-ground urban metro line in Baghdad will cost $1.5 billion [1.8 trillion Iraqi dinars] and be funded by the French government and banks, according to Reuters. The planned line will have capacity to carry 30,000 passengers an hour, will have 22 km (13 miles) […]
The UK's former prime minister, the Rt Hon Sir John Major KG CH, addressed the Kurdistan National Assembly on Sunday 29th May. The full text of his address is provided below: I am immensely grateful to President Barzani for his kind invitation for me to visit Kurdistan. His invitation was issued a long time ago […]
Teh Arab Times reports that Kuwait is ready to sign an agreement with Iraq to guarantee that the Mubarak Al-Kabeer port project will not hinder the construction of Iraq's Grand Faw port. According to the Director of Information at the Iraqi Ministry of Foreign Affairs, Aous Al-Tamimi, the Iraqi Minister of State for Foreign Affairs […]
KOGAS, the Korea Gas Corporation, will double its commitment to develop Iraq's Akkas gas field, according to a report from the Wall Street Journal. The move follows the withdrawal of its partner, Kazakhstan state gas company KazMunaiGas, from the project. Kogas, will now have a 75% stake in one of Iraq's largest gas projects, up […]
A delegation from the German company Liebherr visited the Basra Investment Commission (BIC) and discussed available investment opportunities and advantages provided by the Iraqi Investment Law to the investor, in addition to the support for the industrial projects in Basra. The delegation presented a project to build a maintenance center, training center, laboratory and factory, […]
The UK's Foreign Office Minister, Lord Howell, addressed the Iraq-British Business Council (IBBC) on 24 May: It is a pleasure to address you today here at the IBBC’s Iraq Day Summit Conference. The IBBC’s commitment to Iraq is much welcomed by this Government. The UK Government continues to develop a strong and supportive bilateral relationship […]
Statement by the Special Representative of the Secretary General, Ad Melkert, at the National Conference of Economic, Social and Government Stakeholders: Your Excellency the Speaker of the Council of Representatives, Usama al-Najaifi; Ministers, Ambassadors, Distinguished Visitors. It is my honour to have the opportunity to address such a diverse cross-section of Iraqi citizens: from government, […]
