Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
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, […]
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 […]
