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By John Lee.

Iraq's Ministry of Health has signed a contract with Qatar's Elegancia Healthcare, a subsidiary of Estithmar Holding, to manage, operate, and maintain a 492-bed hospital in Nasiriyah, in Dhi Qar province.

The signing ceremony was attended by the Qatari Ambassador to Iraq, Sultan bin Mubarak Al-Kubaisi, the Director-General of Health in Thi Qar, Dr. Rashid Najm Al-Khalidi, the authorized director of the Qatari company, Mr. Mohammed Al-Dawamneh, and several general directors from the Ministry of Health.

During a press conference following the contract signing, the Minister of Health stated that this initiative is in line with the priorities of the government's healthcare program and the Modern Hospital Management Program for new hospitals.

He emphasized that the program includes managing, operating, maintaining, and training Iraqi personnel in various specialties at the hospital. Additionally, it involves bringing in doctors in rare specialties to train Iraqi staff. Dr. Al-Hasnawi mentioned that the ministry has so far signed three contracts for hospital management with specialized companies under the Modern Management Program, in addition to a plan to operate modern hospitals expected to open in Baghdad during the current year.

The Qatari ambassador expressed confidence in the extensive cooperation with the Iraqi Ministry of Health through the signed contract. He highlighted the ministry's commitment to ensuring the provision of the best healthcare service to citizens and confirmed that the company will utilize its expertise in managing Nasiriyah Hospital in Thi Qar.

(Source: Ministry of Health)

By John Lee.

Dr. Haider Muhammad Makkiya, head of Iraq's National Investment Commission (NIC), has held a meeting with the regional director of Qatari real estate firm Ariane, Ahmed Magdy Al-Kararty.

Dr. Makkiya emphasized Iraq's commitment to fostering an attractive investment environment, highlighting strategic projects as crucial for revenue maximization and the enhancement of service to the citizens.

He noted ongoing efforts to strengthen economic ties with various advanced nations, including Qatar, pointing out favorable prospects across tourism, housing, and industrial sectors.

Mr. Al-Kararty expressed appreciation for Dr. Makkiya's dedication to enhancing economic relations between Baghdad and Doha, affirming readiness to pursue both foreign and local investment opportunities across Iraq.

(Source: NIC)

In a recent move by the Kurdistan Regional Government's Ministry of Interior, citizens from 53 countries have been granted the ability to enter the Kurdistan Region without a pre-arranged visa.

Under this new policy, eligible travellers simply need to present their passports at any border entry point, where they will be issued an electronic visa, allowing them immediate access to the region.

The countries included in this visa exemption are: Albania, Australia, Austria, Bahrain, Belgium, Brazil, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Iran, Ireland, Italy, Japan, Jordan, Kuwait, Latvia, Lebanon, Liechtenstein, Lithuania, Luxembourg, Malta, New Zealand, Norway, Oman, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Turkey, Vatican City, the Netherlands, the United Arab Emirates, the United Kingdom, and the United States of America.

Applicants must ensure their passports are valid for at least 6 months to be eligible for entry.

(Source: KRG)

By John Lee.

Prime Minister Mohammed Shiaa Al-Sudani received representatives from the Chinese company China Railway, which is implementing the development project of Al-Nesoor Square in central Baghdad, as part of the first package of projects aimed at alleviating traffic congestion in the capital.

During the meeting, attended by several advisors to the Prime Minister, the Chinese company presented an explanation of its capabilities and available resources, enabling it to participate in the implementation of the recently announced Baghdad Metro project. They also highlighted their expertise and readiness to contribute to this vital project.

A statement  from the Prime Minister's office notied that 26 international companies from Germany, Italy, Spain, China, India, and Qatar have expressed their interest in participating in the implementation of the Metro project following its announcement earlier this month.

(Source: PMO)

By John Lee.

The Qatar Red Crescent Society (QRCS) has recently launched a new project to provide medical care for patients with cancer in Iraq.

Full statement from QRCS:

Within the context of backing the health sector in Iraq, Qatar Red Crescent Society (QRCS) has recently launched a new project to provide medical care for patients with cancer and malignant tumors, by supplying cancer drugs and consumables to the Nanakali Hospital for Blood Diseases and Cancer in Erbil, Iraqi Kurdistan.

Implemented in cooperation with the Iraqi Red Crescent Society (IRCS) and the Erbil Health Directorate, the project addresses the shortage in medications and medical consumables to treat 7,500 displaced and local patients with cancer in Iraqi Kurdistan.

While the refugee camps remain to exist, many donors and humanitarian service providers have halted work in Iraq, just to worsen the existing gaps in different humanitarian areas.

QRCS office in Iraq has already delivered a large quantity of essential medications to the Nanakali Hospital in Erbil City, northern Iraq. This effort is aimed at meeting the shortage in health care provided for patients with cancer among Syrian refugees, displaced Iraqis, and the host community.

The Nanakali Hospital is a central medical facility that receives patients of different age and social groups from across the country, playing a pivotal role in providing medical care for those in need.

It serves about 2,110 patients per month, through its chemotherapy, laboratory, radiology, clinical consultation, and pharmacy departments.

(Source: QRCS)

By Ahmed Mousa Jiyad.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

TotalEnergies Agreement Smells Filthy

The more information becomes available about this agreement, the more it exposes the extent of unfairness and damage to Iraq national interest, and the deception or scandal of "investing $27 billion" that was propagating and promoting this agreement. ⁽¹⁾

The Ministry of Oil (MoO) keeps mute; insists on a complete blackout and not publishing the terms of this odious agreement with TotalEnergies and contracts of its four projects. But available information indicates, so far, three very serious and financially costly direct disadvantages or burdens, particularly relating to Ratawi [Artawi] oilfield, in addition to the indirect burdens and consequences.

The first burden is represented by adopting a base line production (BLP) in the aforementioned field that is 27 thousand barrels per day (bpd) less than its actual production capacity; resulting in "gross" export revenues loss by Iraq estimated at $817 million annually. The corresponding "net" export revenues losses are less than that, depending on the details of the contract for developing this field, which is still kept secret!

The second burden relates to TotalEnergies and QatarEnergy companies share in the profits generated from the field's current production capacity, without they investing a single dollar in this field's current production capacity.

The amount that Iraq loses from this illegal and unjustifiable participation was estimated in six cases, the total of which ranges between $2.365 billion and $12.795 billion throughout the duration of the contract.

The third burden is represented by reducing Basra Oil Company's (BOC) share, to 30%, less than it should be, which is 41.43%. This causes huge losses, including the net profits throughout the contract period starting from August 16, 2023, in addition to the lack of clarity about the fate of $1.8 billion worth of fixed assets in Artawi oilfield!!

Click here to read the full article.

Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq's Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad's biography here.

By John Lee.

Iraq's Minister of Electricity, Engineer Ziad Ali Fadel, met with a delegation from the Qatari company Urbacon on Monday.

The discussions focused on plans for the reconstruction of the Baiji Thermal Power Station in Salahuddin Province.

The plant, which the Ministry sees as an investment opportunity, has a capacity of 2,100 MW.

Urbacon, also known as UCC Holding, is part of Power International Holding (PIH). The companies took part in a major trade mission from Qatar to Iraq in June 2023.

(Source: Ministry of Electricity)

By John Lee.

Qatar's Ooredoo, Kuwait's Zain Group and TASC Towers Holding of Dubai are to create the largest tower company in the MENA region, in a cash and share deal.

The enlarged tower company, comprising approximately 30,000 towers, has a combined estimated current enterprise value of USD 2.2 billion.

Ooredoo and Zain will equally retain a substantial stake of 49.3% each in the newly restructured entity, through an asset and cash equalisation process. The founders of TASC will retain the remaining shareholding, through Digital Infrastructure Assets LLP, and will continue to manage the operations of the business.

The tower entity is expected to achieve run-rate revenues close to USD 500 million annually, with an EBITDAaL (after leases) of more than USD 200 million annually upon the completion of closings in all individual countries - including Qatar, Kuwait, Jordan, Iraq, Algeria, and Tunisia. This financial position underpins the promising prospects and profitability of the newly restructured tower company.

The signing of this landmark transaction constitutes a major milestone towards realising key aspects of both Ooredoo and Zain's strategies, focused on evolving into smart telcos and creating value-focused portfolio. It also reaffirms the commitment of Ooredoo, Zain and TASC to drive growth and value for shareholders.

In a joint commentary, Aziz Aluthman Fakhroo, MD and Group CEO, Ooredoo; Bader Al-Kharafi, Zain Vice-Chairman & Group CEO; and Iyad Mazhar, Founder & CEO of TASC said:

"This pioneering deal embarks us on an exciting journey together as it results in the establishment of the region's largest independent Tower company, placing the MENA region on the world telecom tower map.  

"It also positions the region as an advanced player in the global telecoms landscape, and we anticipate wide-ranging positive implications for the region - from economic growth and upgraded connectivity to technological improvements and increased global relevance.

"This strategic transaction will unlock significant shareholder value through higher earnings multiples, as well as ensure capital efficiency, optimising balance sheets for our respective companies and creating new possibilities for investors. The deal also demonstrates our joint dedication to supporting the reduction of the region's carbon footprint, contributing to our vision of reshaping the telecommunications sector by building a more sustainable ecosystem and ensuring a better-connected future for our communities across the region."

As an independent tower company, leveraging the combined assets of Ooredoo and Zain, TASC will offer Passive Infrastructure as a Service (PIaaS) in a partnership model. This creates unprecedented opportunities for all mobile network operators, offering a capital-efficient alternative to building, owning and managing their own passive infrastructure in a cost-efficient and environmentally friendly manner.

This partnership model is well-equipped to meet the needs of other mobile network operators seeking to reduce costs, lower carbon emissions, and address the increasing demand for sites driven by double digit growth in mobile data consumption across the region.

Both Ooredoo and Zain will retain their respective active infrastructure, including wireless communication antennas, intelligent software, and intellectual property with respect to managing their telecom networks.

The expected timeline for the completion of this transaction contemplates initial market closings in 2024.

The phased implementation, tailored for each market and adhering to the regulatory environment, is subject to regulatory approvals, ensuring a seamless transition of operations. Ooredoo's tower network in Oman is following a stand-alone process.

Morgan Stanley acted as the exclusive financial advisor to the Ooredoo Group, and Citigroup Global Markets Ltd acted as the exclusive financial advisor to Zain Group and TASC Towers Holding on this transaction. DLA Piper acted as the legal advisors for Ooredoo, and both Herbert Smith Freehills (HSF) and Norton Rose Fulbright (NRF) jointly acted as the legal advisors of Zain Group and TASC Towers Holding. Shearman & Sterling (S&S) acted as the legal advisors of Digital Infrastructure Assets.

(Source: Ooredoo)

By John Lee.

In a meeting of the Joint Management Committee, Iraq's Oil Ministry discussed the development plan for fields and projects contracted with the French company TotalEnergies.

The Deputy Minister for Extraction Affairs affirmed the ministry's commitment to implementing strategic projects with TotalEnergies and QatarEnergy.

According to a statement from the Ministry, the four significant projects under the contract aim to support the national economy through field and oil reservoir development, gas utilization, water supply for local needs, and a groundbreaking 1,000-megawatt solar energy project, a first for Iraq.

It adds that the contracting company has received the work for project execution, including the development of the Artawi field to increase its production capacity to 210,000 barrels. Additionally, the gas treatment project in six oil fields (Ratawi [Artawi], Majnoon, West Qurna 2, Siba, Luhais [Lahais], and Tuba [Subba]) and the seawater project, which will provide substantial quantities of water for industrial and agricultural projects, were discussed. The transition to alternative energy is also part of the plan.

These projects will open doors for the Iraqi private sector to participate and create significant employment opportunities in the region. The Regional Director for the Middle East and North Africa at TotalEnergies, Julien Pouget, expressed the company's pride in the contract and appreciated the continuous support from the Oil Ministry to facilitate the projects included in the agreement. These projects, including Artawi field development, gas emissions reduction, utilization of associated gas in oil fields, seawater supply, and the 1,000-megawatt solar energy production, are expected to have a positive impact on Iraq's oil and gas industry.

(Source: Ministry of Oil)

By John Lee.

Qatar has appointed a new Consul General in Erbil.

The Head of the Protocol Department at the Ministry of Foreign Affairs, Ammar Dawood, received the consular credentials of HE Hussein bin Ali Al Fadala on Tuesday.

The Qatari Investment Holding Company [Estithmar Holding] has recently announced investments in Iraq.

(Source: Qatari Ministry of Foreign Affairs)