Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
South Korea's Hyundai Heavy Industries has tendered the lowest of six bids for the construction of a 500-megawatt natural-gas fired power plant in Najaf, an Iraqi Electricity Ministry official said. According to Bloomberg, Hyundai bid $158.9 million for the work; Metka SA (METTK) of Greece, Turkey’s Enka Insaat & Sanayi AS, Lanco Infratech Ltd. (LANCI) […]
The Mayoralty of Baghdad has said that it will provide 50 billion dinars [42 million Iraqi dinars] as an additional allocation to improve services in the capital. "The extra allocations will be used to improve services, including drinking water, sewerage, roads and agriculture," the mayoralty said in a statement quoting Engineer Naeem al-Kaabi, responsible for […]
The Ministry of Labor and Social Affairs has said it will require foreign companies operating in Iraq to ensure that local Iraqis make up at least 50% of their work force, in a bid to reduce unemployment in the country. Official figures indicate that Iraq has more than 25% unemployment with unofficial statistics indicating up […]
Diyala Province Administration has approved an offer from an Egyptian company to build a new steel and stainless steel mill in the province. The local administration informed the Egyptian company to send a delegation to the province in order to study the details of the project. (Source: AlSumaria TV)
A major project for the reconstruction and rehabilitation of west Baghdad’s al-Sadr City will employ between 75,000 and 100,000 people during its implementation period, and another 50,000, Baghdad’s Mayor, Sabir al-Issawi said on Wednesday. According to the report from Aswat al-Iraq news agency, Issawi stressed that the project would comprise the construction of several multi-storey […]
The Mayoralty of Baghdad signed on Tuesday two contracts with two companies to set up two malls in the capital at a cost of $54 million. “The mayoralty of Baghdad has signed a deal with the Dar al-Sabah company to build a mall in the al-Harithiya district at a cost of $42 million [50 billion […]
The Kurdistan Regional Government’s Head of Foreign Relations Minister Falah Mustafa Bakir yesterday met with the Head of the European Union’s Rule of Law Mission for Iraq and they inaugurated the mission's permanent office in Erbil. At a press conference after their meeting Minister Bakir and Mr Francisco Diaz Alcantud provided information about the European […]
According to a report from Reuters, the Saudi-based Dao al-Jomaih Group tendered the low bid of $204.4 million to install four gas turbines in Iraq's southern Basra province. Salam Qazaz, Iraq's deputy electricity minister, said on Tuesday that the units will have a total generating capacity of 500 megawatts (MW) and will be installed at […]
A high-profile Spanish delegation headed by the Spanish Economic Minister is expected to visit Kurdistan next week to boost relations with the region. The Spanish delegation will be the first such high level visit to Kurdistan Region, according to AKnews. During the several-day visit to Kurdistan, the Spanish delegation is also expected to participate in […]
The Norwegian ambassador to Iraq said his country intends to open a representative office in Kurdistan soon. The official added his country intends to set vocational training for Iraqis. The step is one of the plans to boost the economic, political and cultural ties with Iraq and the Kurdistan Region, Peter Olberg told AKnews Sunday. […]
DNO, the Norwegian oil company with operations in Iraqi Kurdistan, has announcee that the bond offering it announced on 9th March has been completed on 30th March, 2011. The bond issue was split between a USD tranche of approx. USD 140 million and a NOK tranche of approx. NOK 560 million, for a combined amount […]
Iraq’s Mortgage Bank has decided to raise the personal credit, granted for any citizen planning to build a house, to 60 million Iraqi dinars [$53,000], the Bank’s Director-General, Hussein Ahmed Tu’ma, said on Wednesday. He said that the minimum total area of each patch of land would be decreased to 90 square meters from 100 […]
