Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
A source in the outgoing Iraqi government has said that International Monetary Fund (IMF) stressed the need for Iraq change its tax system as a condition for granting loans and supporting projects. A member of the Iraqi negotiating team, Fadel Muhammad Sarraj, told AKnews that "the IMF demanded the Iraqi government formally to restructure the […]
A private-sector company is to invest £200m to build a cement factory with a capacity of one million tons and a total cost of $200 million [240 billion Iraqi dinars] in Muthanna, a source from Muthanna’s Investment Commission said on Sunday. “We have completed all legal measures for contracting and handing over the land for […]
MAXXI, the National Museum of XXI Century Arts in Rome by Zaha Hadid Architects has won the coveted £20,000 RIBA Stirling Prize 2010, in association with The Architects Journal and Benchmark. The presentation of the UK's premier architectural award took place at a special awards ceremony this evening (Saturday 2 October) at The Roundhouse in […]
Iraq offers $200 billion investment opportunities to foreign investors, making it one of the most lucrative investment destinations in the region, an Iraqi government adviser said on Thurday. "To be or not to be is not the question here as huge investment opportunities do exist in Iraq and the government will ensure the security to […]
On the last day of the Erbil international construction trade fair, a joint venture was signed between a Turkish and a UAE company to invest in the housing and construction sector in Iraq. Project Iraq 2010, which was the 32nd international fair opened in Erbil since 2005 and the 6th this year, finished on Thursday. […]
Ninewa is actively seeking to entice foreign investors to the province, according to Ninewa's Governor, Atheel al-Nejeifi, said on Friday. “The province has tabled proposals to the local council to set up investment firms in numerous fields, including an airlines company,” Nejeifi told Aswat al-Iraq news agency. The Ninewa Investment Commission had said in August […]
ABB, the Swiss-Swedish engineering group, has agreed to pay more than $58m to settle criminal and civil charges in relation to alleged payment of bribes and kickbacks in Mexico and Iraq. The Swiss-Swedish engineering group was charged by the US with conspiracy and violating the Foreign Corrupt Practices Act. Prosecutors alleged that ABB and its […]
Iraq's cabinet has just approved a $733 million [880 billion Iraqi dinar] deal to build a new oil export terminal in Basra, a spokesman for the Iraqi government said on Tuesday. The work will be carried out by Leighton Offshore Private Ltd., which was selected from four international companies invited to tender for the project. […]
Gulftainer, in collaboration with a local Iraqi company, launched a new container-dock project in Basra on Monday, with the aim of increasing capacity at the port by about 58,000 tons per year. The Emirati company will initially invest $24m [29 billion Iraqi dinars] in the project, according to the report from AKnews. Gulftainer's Director, Peter […]
Mott MacDonald has been appointed by BGR Energy Systems to carry out detailed engineering and procurement support for the Akas and Al-Mansuria gas fields which are being developed by the State Company for Oil Projects. The project is being developed to meet the growing demand for gas within Iraq. The gas produced from the two […]
Mott MacDonald, the leading global management, engineering and development consultancy, is a sponsor of the UKTI (UK Trade and Investment) and EIC (Energy Industries Council) conference on oil and gas opportunities in Iraq. The conference programme started in London at the EIC on 28 September and moves to Middlesbrough Football Club on 29 September and […]
Azzaman news agency reports that the Iraqi government has agreed to allocate $10 billion for the reconstruction of Sadr City, and that talks with international firms have reached an advanced stage. Sadr City is on the outskirts of Baghdad and is perhaps Iraq’s most impoverished town, but if the reports are correct is should become […]
