South Korea's STX Heavy Industries has signed a $3bn deal to build a steel plant and gas-fired power station in Basra. The power plant will have a capacity of 500MW, while the steel plant should output 3m tons annually. The Iraqi State Company for Iron and Steel will take charge of operating the plant after […]
Iraq Business News brings you the latest Iraq Industry & Trade News, with information on developments and opportunities.
(Sources: Reuters, Hindustan Times) Iraq's Minister for Industry and Minerals announced the intention to strengthen commercial ties with India, following a visit to New Delhi. The state-run Indian Oil Corp (IOC) plans to import 220,000 bpd of Iraqi oil, and joint ventures worth $2bn are being investigated.
German truck maker Daimler AG said Monday it has signed an agreement with the Iraqi government to supply Mercedes-Benz trucks and equipment for truck assembly, according to BussinessWeek magazine. Daimler, based in Stuttgart, said it will provide complete trucks and truck kits, tools and equipment for assembly, as well as technical support in the deal […]
Iraqis' trade volume in the free zones went up to around JD222.2 million during the last year, out of JD1.64 billion in total investments in goods and vehicles' trade. According to the Free Zones Corporation Director General Iyad Qudah, the Jordanian trade investment volume was over JD1.37 billion, while the remaining amount accounted for trade […]
The Iraqi Trade Ministry has specified Jan. 31, 2010 as a deadline to receive rice from farmers. “The Ministry has so far received 102,740 thousand tons of rice from farmers,” the Ministry said in a release on Tuesday received by Aswat al-Iraq news agency. It said that the Ministry’s technical staff will contract with private […]
A delegation from the Turkish companies discussed on Monday with Basra’s governor the final preparations for holding the international Turkish fair in the province, a media official said. “A delegation from the Turkish Ramsey Group held on Monday (Jan. 25) a meeting with Basra Governor, Shaltagh Abboud al-Mayah, on the final arrangements for its permanent […]
The Iraqi Chamber of Commerce on Monday elected Falah Merza Kamona as its new head. “I was chosen through a round of secret voting,” Kamona told Aswat al-Iraq news agency. He said that he got 10 votes out of 18 that attended the voting session.
Legislator Hassan al-Saneed called on acting Iraqi Trade Minister Safaa al-Din al-Safi to appear before Parliament on Monday for consultations on the funds appropriated in the state budget to import ration card items. “Several areas in Iraq are complaining that they do not get these ration items and that’s why we invite the minister to […]
The state-owned al-Izz Company has signed contracts worth $3.3 million U.S. dollars with several institutions in the industry, electricity and civil society sectors, an official statement said on Sunday. “The company has signed a number of contracts with the state-run Diala Company for Electrical Industries to upgrade its computer systems, to rehabilitate its transformer factory […]
Wassit Governor Lateef Hamad al-Turfa opened on Saturday two U.S.-funded meat and fish markets in the city of al-Kut. “The two projects cost around six billion Iraqi dinars,” Majid al-Itabi, the Wassit province’s information director, told Aswat al-Iraq news agency He said that the two buildings will occupy a total area of 3,250 square metres. […]
U.S. Provincial Reconstruction Team (P.R.T) will fund two buildings in central Kut city, which will be used as meat and fish markets. “The two buildings will occupy a total area of 3,250 square meters,” Majid al-Itabi, the Wassit provincial media director, told Aswat al-Iraq news agency on Thursday. He said that the first building will […]
The Iraqi Industry Ministry achieved around $3.9 million in December 2009 from contracts to sell and maintain power transformers. This came in a release on Tuesday issued by the Industry Ministry and received by Aswat al-Iraq news agency.