Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
The Iraqi National Investment Commission (NIC) signed a $7.25 billion deal to build one hundred thousand housing units as a complete neighborhood East of Baghdad. The signing ceremony with Hanwha Engineering & Construction, one of the largest engineering and construction companies in South Korea, took place at the Iraqi Prime Minister's Office Nouri Al-Maliki this […]
Basra council decided this week to renovate and upgrade Basra International Airport as part of preparation to host the Gulf Cup in 2013, reports AKnews. The airport is Iraq's second biggest. Jabbar Amin Jaber, Basra Council chairman, said: “More than $100 million (116.5 billion Dinars) were allocated to begin the construction within the next couple of […]
It is a story that could fit in the national newspapers of any country in the world: "central government projects delayed". Yet Iraq seems determined to do something about the delays to these development projects, reports AKnews, as the government is voluntarily giving up central control to local councils to oversee the projects' completion, after […]
Tony Blair's former political strategist, John McTernan, has said that, since the UK's troops are leaving, "our businesses should head there." The last 100 UK troops, who were training domestic forces, pull out on Sunday. Writing for The Telegraph, he stated about the Iraq War: "The first thing to be noted is that our intervention […]
The next city to get some surgery to help restore Iraq's former glory is Najaf, a city of more than half a million inhabitants about 160km south of Baghdad, and home to the religiously important Imam Ali Shrine. Work on the historic center should begin soon and is expected to be completed on time for […]
Swedish truck maker Scania will open a branch in Karbala, its fourth brance after Baghdad, Erbil and a planned third in Basra. On Wednesday, Scania signed a contract with the Iraqi company al-Raw’aa regarding cooperation on this project. Swedish ambassador Karl Magnus said, “This will open a new door for Swedish companies to enter Iraq.” […]
Faruk Group Holding, a major conglomerate in Iraq, has unveiled big investment plans for the northern city of Sulaymaniyah. According to Trade Arabia, the group with a diversified range of interests including telecommunications, cement, manufacturing, hotels, medical services, properties, construction and IT, has pumped more than $400 million into its hospitality industry alone. Unveiling the […]
Iraq’s rebuilding process has been the main focus of a massive number of local and international building and construction companies as well as contractors and sub-contractors. Tens of billions of dollars have been invested in housing projects, hospitals, schools and infrastructure in Iraq over the past years and Baghdad, being the capital city of Iraq, […]
Iraq Mining 2011, a new international exhibition, conference and trade fair for the mining, mineral and material industries in Iraq, will be held from 7th to 8th September in the Royal Garden Hotel in London. THE AIM To facilitate constructive dialogue and exchanges between all the key players for rebuilding world-class mining, mineral and material […]
The foundation stone was laid for a new $10m [12 billion Iraqi dinar] commercial complex and shopping centre in Erbil on Sunday. Samir Abdullah, Minister of Municipalities and Tourism of the Government of the Kurdistan Region, emphasised the importance of Kuwaiti investments in the region. Nasser Al Sayer, Chairman of the Kuwait Al-Sayer Group of […]
The Basra Investment Commission announced that it has received an offer to build 5,280 housing units in the “New Basra” City at a cost of $939 million [1100 billion Iraqi dinars]. The offer came from the al-Saqr al-Jareh [al-Saqar al-Jareh] company, whose director general, Sarah Hameed Meran, said, "The project plan includes the construction of […]
A Turkish company has been contracted to set up four new power stations in Nineveh province at an overall cost of $200 million [240 billion Iraqi dinars], a provincial energy official has announced. Muhammed Wadallah al-Jabbouri from the Nineveh directorate of energy told AKnews that the Turkish firm Lanka has been given the task of […]
