Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. The Ministry of Finance has directed the Public Debt Department, in cooperation with the Central Bank of Iraq (CBI) to launch a second issue of construction bonds, which will be tradable on the stock market. The bonds, also know as a "binaa bonds", will be available for trading for a period of […]
By John Lee. Masdar (Abu Dhabi Future Energy Company) has revealed more details of its solar power projects in Iraq. In an interview with Project Finance International (PFI), the company's CFO, Niall Hannigan, said the engagement will see five solar PV schemes with a combined capacity of 1GW. This will comprise a 450MW scheme in […]
By John Lee. A ceremony was held on Thursday to sign fifteen contracts with Chinese companies to build 1,000 school buildings in various parts of Iraq. The Chinese side was represented by the Vice President of the Power Construction Corporation of China (PowerChina), Mr. Li Daze, whose company will build 679 school buildings, and by […]
By John Lee. Abeer Alshimal Company For General Contracting Ltd., which has offices in Erbil, Dohuk and Mosul, has won a contract with UNAMI for the construction of "new infrastructure with new accommodation, office, welfare buildings at UNAMI Tamimi camp inside the Green Zone in Baghdad." The contract is valued at $1,567,215 and the end […]
By John Lee. Ummet Al Salam Co. Ltd. for General Trading & Contracting has won a new contract with the United Nations Office for Project Services (UNOPS): Construction of prefabricated units and installation of generators at the Signals School in Baghdad Governorate. Contract worth $860,726. (Source: UNGM)
By John Lee. Jibal Al-Madina Company for General Contracts Ltd. has won a contract with the United Nations Secretariat for the construction of a central water feature in al-Yarmouk Park, Mosul. The contract is valued at $227,492. (Source: UNGM)
The Republic of Korea has contributed an additional US$ 3 million to UNDP's flagship programme the Funding Facility for Stabilization (FFS), which has been implementing critical initiatives to stabilize areas liberated from the Islamic State of Iraq and the Levant (ISIL). This is Korea's seventh contribution to the FFS since 2015, bringing its total contribution […]
The Prime Minister of the Kurdistan Regional Government (KRG), Masrour Barzani, met ten entrepreneurs on Tuesday; the entrepreneurs are building schools in Erbil province. Prime Minister Barzani thanked them for their investment and praised the role of the private sector in the Kurdistan Region. The Premier highlighted the importance of education to the ninth cabinet, […]
From the World Bank: Iraq: Rising Fiscal Risks, Water Scarcity, and Climate Change Threaten Gradual Recovery from Pandemic Iraq's economic outlook has improved on the back of the recovery of global oil markets, with its GDP projected to grow from 2.6% in 2021 to over 6% in 2022-23. Nevertheless, without accelerated economic reform, unforeseen domestic […]
By John Lee. The National Investment Commission (NIC) has announced the following investment opportunity: Constructing Tulaiha Future Rest Station in Anbar Province (Source: National Investment Commission)
By John Lee. Al-Mruoj Al-Badhaa Company has won a contract with the United Nations Office for Project Services (UNOPS) for the rehabilitation of five primary health centers in Al Ramadi, Anbar Governorate. The contract is valued at $813,800. (Source: UNGM)
By John Lee. Iraq has successfully completed the sale of a 1-trillion-dinar (£685-million) construction bond issuance, also know as a "binaa bond". The Ministry of Finance issued the bonds for sale on the local financial market at the start of October, in two categories: IQD500,000 bonds with annual interest of 6 percent for two years; […]
