Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
DNO can confirm that export production tests at the Tawke oil field in the Kurdistan Region of Iraq commenced on 2 February. At present, the tested volumes are around 10,000 bopd. The technical tests are being conducted in close coordination with the Kurdistan Regional Government and the Northern Oil Company to ensure a responsible and […]
Infrastructure continues to be the key focus of reconstruction efforts in Iraq, as the country grapples with electricity shortages, a scarcity of housing and insufficient transport links. In BMI’s view, improving core economic social infrastructure provision should help place the country on the path to economic normalcy. The key areas of focus continue to be: […]
The Undersecretary of the Iraqi Trade Ministry has stated that a new mechanism has been adopted to address the crisis in the distribution of the ration card items, especially with regard to facilitating the contracting process between them and the importing companies. Walid al-Helo told AKnews that the Ministry will work to facilitate the process […]
FiberPro Group, a Dubai-based contracting company with operations in the UAE, Cyprus and Greece, has clinched a multi-billion deal for the construction of 30,000 houses in Iraq. According to the report from the Financial Mirror, the Cypriot owners of the company, its Managing Director Fotis Athanassiou, and businessman Demetris Takoushis of Larnaca, are currently in […]
Works are underway to build a 640-unit housing project in the Shatt al-Arab district at a total cost of 58 billion Iraqi dinars [$50m], according to a local source in Basra on Thursday. “The project envisages 640 housing units, on an area of 56 donums [14 hectares], and would take two and half years to […]
South Korea's Hyundai Engineering & Construction has reportedly won a contract worth $219 million to build a 500 megawatt power station near Baghdad, as part of the Iraqi government's efforts to address power shortages, a government spokesman said Wednesday. Ali al-Dabbagh, who is also a minister of state, told Dow Jones Newswires after a weekly […]
Dutch company Van Oord has been awarded the dredging contract for the Iraq crude oil export expansion project off the coast of Iraq in the Arabian Gulf [Persian Gulf]. The client is the South Oil Company of Iraq. Van Oord will be working for main contractor Leighton based in Australia. The contract value for Van […]
Reuters reports that the French engineering group that has signed an outline agreement to build a metro line above Baghdad's streets is in fact Alstom. Shaker al-Zamili, the head of Baghdad Investment Commission, said on Thursday that Iraqi officials signed a memorandum of understanding with Alstom in France last week. An Alstom spokeswoman in Paris […]
Iraq's Ministry of Industry and Minerals has issued a tender for the supply of paving material. Please click here to download the tender document. The closing date for receipt of bids is 12:00 (Baghdad time) on 31st January.
Let's start with a little test: Can you rank the following economies in order of the expected risk of their defaulting on their sovereign debt – Ireland, Argentina, Dubai, Greece, Iraq? The correct order, based on the cost using credit default swaps (CDS) to insure their debt against default, is: Greece (riskiest), Ireland, Argentina, Dubai, […]
The number of reconstruction and housing projects undertaken by the Kurdistan Regional Government (KRG) rose by 24 in 2010, with a value increased by $83m. According to the KRG Ministry of Reconstruction and Housing, in 2010 some 368 projects were completed in the three provinces. The overall value of the projects funded by the ministry […]
AKnews reports that an adviser at the Iraqi Central Bank (ICB) stated on Tuesday that a new law has been submitted to the parliament to combat money laundering in coordination with other government institutions, in order to provide greater protection for Iraq's economic system. Muzher Mohammed Saleh told AKnews that the new law is more […]
