Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
The deputy Iraqi defense minister said Iraq will purchase $13bn (15 trillion Iraqi dinars) of arms from the US between now and 2013. Speaking to AKnews on Friday, Mohammed Askari said the armaments include warplanes, tanks, armored vehicles, helicopters, naval ships and ammunition. The official said the contract is currently underway, with some deliveries already […]
Bloomberg reports that Iraq has awarded gasoline and gasoil supply contracts for the first half of the year. Traders Trafigura Beheer BV, Glencore International AG, and International Petroleum Group of Kuwait won contracts to supply gasoline through June, three of the people said, asking not to be identified since the discussions are confidential. Iraq will […]
Iraq's Minister for Reconstruction and Housing, Mohammed Daraji, said a new large hospital will be constructed in Maysan [Missan] province. Daraji told AKnews that the 260-bed project has been allocated 35 billion Iraqi dinars (IDQ) [$30m] from the ministry's budget. The three-floor maternity and emergency hospital will be constructed during 2011 over an area of […]
A delegation of Chinese companies specializing in cement production visited the Council of Anbar province on Tuesday to discuss investment projects in the region. The head of Anbar provincial council, Jassim al-Halbousi, told AKnews that the discussions focused on ways of increasing productivity at Anbar’s Qaem cement plant. “We hope it will be as significant […]
Royal Dutch Shell may build its own dock in Iraq's Shatt al-Arab waterway to speed up delivery of heavy equipment to its supergiant Majnoon oilfield, according to a report from Reuters. The head of the General Company of Iraqi Ports, Salah Kudhair, told the agency that it had given initial approval to a proposal from […]
Kirkuk Investment Commission said on Sunday that 3 Iraqi companies are competing for the contract to build a mall worth 3 billion Iraqi dinars [$2.6m] in the city. The Investment Commission added that there is also a plan to build 800 residential units to the south of Kirkuk. (Source: Al Sumaria TV)
A total 201 projects costing 90 billion Iraqi dinars (IQD) [$77m] were finalized in Missan within the Provincial Development Budget (PDB) for the year 2010, according to the deputy governor on Saturday. “There were 61 municipal projects, 29 water projects, 24 for sanitary sewage, seven for electricity, four for communications, three for each of reconstruction, […]
The local administration in Basra decided to allocate the sum of 242.2 billion Iraqi dinars (ID) [$207m] to carry out service and urban projects in preparation for the hosting of the Khaleeji 21 soccer tournament [21st Gulf Cup of Nations], a spokesman said on Thursday. “The higher committee for the rehabilitation of Basra, chaired by […]
Iraq needs foreign investors in the oil sector to help break a bottleneck at its southern ports, Iraqi Prime Minister Nouri al-Maliki said. "We have no restrictions on their [foreign investors] entry. We want them," Maliki told The Wall Street Journal. "We need speed. We need money." Maliki last year gave the nod to a […]
South Korea's STX Heavy Industries concluded a deal with Iraq for a petrochemical plant in the southern city of Basra, according to Aswat al-Iraq. A Basra official said.“The delegation discussed with the governor the mechanism to implement a memorandum of understanding the company signed with the industry ministry to rehabilitate the petrochemical complex in Basra.” The […]
Addax Petroleum Corp.’s crude output has risen 14 percent since the Geneva-based company was acquired by China Petrochemical Corp. in August last year, according to Bloomberg. Crude production at Addax has grown to 155,000 barrels a day from 136,000 barrels a day, China Petrochemical, also known as Sinopec Group, said in a statement on its […]
The Kurdistan Regional Government has licensed a firm to build a $1.1 billion smelter and steel plant, according to Trade Arabia. Mass Global was granted the to build the project in the Chamchamal area between Kirkuk and Sulaimaniya, said Haidar Mustafa, head of the industrial projects department of KRG's investment commission. "The total amount of […]
