Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
A multi-billion-dollar gas deal between Iraq and Royal Dutch Shell will be presented for ratification to the new cabinet once it has been formed, Iraq's Oil Minister said. "We are still negotiating the contract," Hussain Al Shahristani said after a graduation ceremony for the oil police, according to a report from Trade Arabia. The $12 […]
Azzaman reports that the Iraqi government has earmarked $10 billion for the redevelopment of the low-income township, Sadr City, in Baghdad. The project, which will take 10 years to be completed is one of the largest housing schemes in the Middle East, according to Baghdad Mayor Saber al-Aysawi. Aysawi said the huge project will solve […]
A total of 170 projects have been implemented in Maysan [Missan] at a cost of 85 billion dinars [$73m] during 2010, according to a director of the financial department of the Maysan Council. “Missan has implemented 170 projects in the public sector, health and education sectors at a cost of 85.520 billion dinars,” Abd Ali […]
The first of three new refineries in Iraq’s northern Kurdistan is expected to start selling petrol for the first time next week. The 98-octane gasoline will be sold to petrol stations in the semi-autonomous region, Ali Hussein Ballo, a consultant at the natural resources ministry said in a telephone interview with Bloomberg. The Khabat refinery, […]
An Iraqi company has won an investment license to build a residential compound in Muthanna, an official of the Muthanna Investment Commission said on Wednesday. “The MIC has granted an investment license to an Iraqi company to build a compound, consisting of 792 apartments, in Muthanna on an area of 65 donums [16 hectares]”, Ali […]
Ayad Allawi has reportedly threatened to quit the power-sharing government according to an interview with Britain's Times newspaper on Tuesday. "Power-sharing is not happening," Allawi said. "It is not set to work in a meaningful way... If it does not change, I will not participate." Despite his Iraqiya block narrowly winning elections in March, Allawi […]
GE (NYSE: GE) today announced that it will provide gas turbine technology to Mass Global Investment Company, an independent power producer, to help meet northern Iraq’s growing demand for electricity. Under the agreement, GE will supply three Frame 9E gas turbines and generators for the 375-megawatt expansion of the Arbil Power Plant, located in Iraq’s […]
An investment delegation from the Korean company Hyundai, specialized in establishing and equipping oil-fired power plants, visited Anbar province on Tuesday to discuss proposals for investment in the province, according to a report from AKnews. Wissam al-Rawi, the head of the Energy Committee of Anbar Council, said that the council discussed investment with the Hyundai […]
An economic adviser to the Iraqi government, Salam al-Qoraishi, said Iraq and Syria had agreed in principle to extend a pipeline with a capacity of 1.7 million barrels through Syrian territories to export Iraqi oil to the Syrian ports on the Mediterranean Sea, according to AKnews. Iraq is currently linked to the Turkish port of […]
These two reports date from December 2009, but are still worth reading by anyone who is interested in the investment climate in the country. Iraq Business News has been in contact with the National Investment Commission (NIC) regarding updates to these reports, and we will keep our readers informed as soon as new documents are […]
3.8 billion Iraqi dinars [$3.2 million] has been allocated to a number of service projects in Erbil, its Governor, Nawzad Hadi, said on Saturday. “A local contracting company embarked on works to pave 22-km-long roads in Arbil al-Jadida area, eastern Erbil, at a cost of 1.3 billion dinars, earmarked from the Provincial Development Budget for […]
Heritage Oil Plc (LSE: HOIL), the independent upstream exploration and production company, has announced that it is hosting an investor day on Saturday in Erbil, Kurdistan Region of Iraq ("Kurdistan"). The purpose of the day is to provide attendees with more detail on the Company's operations and strategy in Kurdistan and a presentation will be […]
