Iraq Business News brings you the latest news on developments and opportunities in Iraq’s public works.
According to reports from Reuters, the Korean giant STX Group has played down the possibility that its $2.76 billion power deal with the Iraqi government may collapse. Following report that STX was running out of time to secure a third party financial guarantor, the shipping-to-energy conglomerate says the contract does not mention a three-month deadline […]
With ports and pipelines blocked in Libya, North Africa, and civil war moving into its sixth month, Iraq is set to benefit, says The National. Meanwhile, Reuters reports that foreign oil companies in Syria are reporting business as usual, despite escalating violence. "Iraq is going to boom," Erin Miller Rankin, a construction and project lawyer in […]
Iraqi firm al-Faw this week started to build a US$50m housing complex in Iraq's third largest city, Mosul, according to Aknews, at the same time that two more complexes are announced. The Mosul project will create another 100,000 housing units, three schools, a shopping complex and four health centres. It is due to be completed […]
Iraq needs to boost its 2012 investment budget to as much as 60 trillion dinars ($51 billion) from a planned 40 trillion dinars, to allow funds for new projects, the Planning Minister, Ali al-Shukri (pictured), told Reuters in an interview on Monday. "What is being put forth is 40 trillion Iraqi dinars (as the investment […]
Reuters reports that the United States has wasted $34 billion [40 trillion Iraqi dinars] on service contracts with the private sector in the wars in Iraq and Afghanistan, according to a study being finalized for Congress. The findings by a bipartisan congressional commission were confirmed to Reuters by a person familiar with the draft of […]
The agriculture ministry has started work on a project to create green oases in various parts of the country as a way to combat a increasing desertification due to water shortages, according to a report from AKnews. The oases will be planted with palm trees and cultivated for agricultural purpose with irritation from wells. The […]
A new children’s hospital in Kurdistan won a prestigious international design award at a ceremony in Boston on July 9th. The hospital, which was commissioned by the Kurdistan Regional Government, will be the first in Kurdistan dedicated to the treatment of children. The vision for the children’s hospital in Erbil, capital of the Kurdistan Region, […]
Government efforts to reduce the shortage of irrigation water in Diyala province have proved inadequate, the Ministry of Water Resources said on Wednesday. Spokesperson for the ministry, Ali Hashim, said several wells have been drilled in agricultural areas but these wells are not enough and the Iranian authorities must allow more water to flow down […]
Three more maternity hospitals need to be built in Sulaimaniyah to deal with the fact that a baby is born every 35 minutes in the province, medical officials say. The Director of Sulaimaniyah's only maternity hospital, Shler Fayaq Gharib, said the province needs three more maternity hospitals to deal with the increase in births. AKnews […]
AKnews reports that the German energy firm MBH has landed a $625 million contract to build five 100-MW power plants in Nineveh province. The Iraqi electricity ministry announced the deal on Wednesday, saying that the project is expected to be completed in 21 months. The establishment of the plants is part of the government’s plan […]
Alstom Grid has been awarded a €80 million contract from Calik Energy [Calik Enerji], a leading Turkish energy company, for the supply of electrical transmission equipment to be installed in two power plants being built in Iraq by Calik Energy. This contract is considered the largest one to date for Alstom Grid in Iraq. The […]
Iraq has signed a $1.2 billion contract with Canada's Capgent to build 10 power stations with a total capacity of 1,000 megawatts in a bid to meet local demand, Reuters reports. A ministry spokesman told AFP that the plants were to be constructed within 12 months in the provinces of Anbar, western Iraq, and in […]
