Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Business Monitor International (BMI) has published a new report on business in Iraq. Summary: The oil sector contracts signed between Iraq and international energy companies in 2009 reflect the first stirrings of what the oil and gas industry hopes will be the reestablishment of a strong working relationship. Following years of underinvestment as a result […]
A UAE company has agreed to build a residential and commercial compound in Karbala, the chairman of the Karbala council said on Monday. “A delegation from a UAE company has wrapped up its several-day visit to Karbala, during which it expressed an interest in implementing tourism and hotel projects in the province, as it has […]
Baghdad-born architect Zaha Hadid has been appointed to design a new headquarters for the Iraqi central bank in Baghdad, two months after an attack on the building left at least 15 people dead. Bloomberg reports that Hadid, aged 59, was approached by the Iraqi authorities earlier this year, before the attack, and initial talks about […]
Staff from the China National Building Material Company, CNBM, have started work on the construction of the first concrete factory in al-Muthana province. "The Chinese firm will construct the factory for an Iraqi investor," a local source told Aswat al-Iraq news agency. He explained that the total cost of the project is $270 million [320 […]
The Ninewa Investment Commission has granted 28 investment permits for investments totalling "more than $1 billion" [1.2 trillion Iraqi dinars] in the province. "The permits were granted to local businessmen to invest in the fields of agriculture, industry, tourism, health and education," a source from the commission told Aswat al-Iraq news agency. He explained that […]
Works commenced on a project to pave five roads in rural areas at a cost of 2.711 billion Iraqi dinars [$1.6m], according to a spokesman for al-Hindiya district on Saturday. “Local firms embarked on a project to pave five roads in rural areas in al-Hindiya district, (20 km) east of Karbala, and other neighbouring districts,” […]
We reported recently that the Iraqi government has earmarked $300 million to upgrade Baghdad's hotels for next year’s Arab summit. Azzaman now reports that the Baghdad Municipality of Amanat al-Asima is racing against time to upgrade some of Baghdad’s run-down neighborhoods in advance of summit. The Iraqi government has expressed a willingness to host Arab […]
Aswat al-Iraq reports that the Iraqi Industry Ministry has reached agreement with a Chinese producer to assemble 10,000 Chinese cars in Iraq. The ministry is also currently in negotiations with a French producer to assemble trucks in Iraq. IBN believes the truck-maker to be Renault. “This should be the first step toward establishing an automotive […]
By Jody Ray Bennett for ISN Security Watch In hopes of making good on a campaign promise just months before the November elections, President Barack Obama successfully oversaw the last of combat troops depart from Iraq just a few weeks shy of the 31 August deadline. While 50,000 soldiers will remain in Iraq as ‘advisors,’ […]
Range Hospitality, a dynamic, progressive and innovative institution focused on hospitality and real estate, has launched the Al Rawdatain Gardens development in Iraq's pilgrimage centre, Karbala, to cater to the significant shortage of accommodation. Approximately 18 million pilgrims visit Karbala during the peak seasons every year. With a current shortage of accommodation in the city, […]
Shares in oil rig manufacturer Lamprell (LSE: LAM) were up 3% in early trading on Monday following the announcement of its half-year earnings, but gave up those gains in the afternoon to close down 1.3% at 260.4p. The company identified Iraq as a key target over the coming years. In his Chairman's Statement, Jonathan Silver […]
A survey of more than 300 senior executives by the Economist Intelligence Unit (EIU) found that foreign investors are still put off by violence in Iraq, but most companies believe the security situation will improve, despite the withdrawal of international troops. The EIU surveyed 367 senior executives from 52 countries about their perceptions of investment […]
