Iraq Launches Major Chemical Production Project in Basra
By John Lee. Iraq's Minister of Industry and Minerals, Prof. Eng. Khaled Battal Al-Najm, has launched the construction of the country's largest chemical production plant in Basra. Located at the State Company for Petrochemical Industries, the project aims to boost Iraq's production capacity and create job opportunities. The plant, developed in partnership with the private […]
Lucky Cement fires New Clinker Production Line in Samawah
By John Lee. The Najmat Al-Samawah (NAS) joint venture, led by Pakistan's Lucky Cement, has successfully fired the kiln for its new clinker production line in Samawah, The line has a capacity of 1.82 million tons per annum (MTPA). An additional cement grinding plant with a capacity of 0.65 million tons per annum is under […]
Iraq's Ministerial Council for Economy Convenes in Baghdad
By John Lee. Iraq's Ministerial Council for Economy, held its 13th and 14th sessions in Baghdad on May 12, 2025. Discussions included enhancing coordination between federal and regional quality control authorities, with a focus on streamlining goods inspection at border crossings. The Council approved measures to recognize the Kurdistan Region's quality control tests for imported […]
Dollar Transfers from Iraq: JP Morgan awards TBI
By John Lee. The Trade Bank of Iraq (TBI) has been awarded the "STP Excellence in Payments and Transfers" award from JP Morgan, recognizing the bank's commitment to efficient and sustainable direct payment practices. According to a statement from TBI, the award highlights its high efficiency in processing financial transactions, particularly in direct financial transfers […]
Contract signed for $240m Cement Plant in Muthanna
By John Lee. Jordanian-based International Venture Investment Holding (IVI Holding) has announced the signing of an Engineering, Procurement, and Construction (EPC) contract with Chinese company Sinoma Overseas Development to build a 6,000 TPD [tonnes per day] clinker cement plant in Al-Muthanna Province. The project, valued at over $240 million, aims to address the local cement supply […]
PM orders meeting on Al-Khairat Power Plant Investment
By John Lee. The Iraqi Prime Minister has ordered a consultative meeting to be held between the Ministry of Electricity and the General Secretariat of the Council of Ministers regarding the Al-Khairat Thermal Power Plant. According to a statement from the Prime Minister's Office, the focus of the meeting is on resolving financing issues related […]
Iraq Assumes Presidency of Economic and Social Council
By John Lee. Iraq has assumed the presidency of the Economic and Social Council at the ministerial-level meeting in Baghdad, part of the preparations for the Fifth Arab Economic and Social Development Summit. The outgoing president, Lebanese Minister of Economy and Trade Amir Bisat, expressed confidence in Iraq's leadership. Taking over the presidency, Iraq's Minister […]
Iraq Dinar Fraud: $8.4m Recovered
By John Lee. The Iraqi Judiciary has recovered 11 billion dinars [$8.4 million] following a financial fraud case involving a company that illegally profited from currency exchange rate differences through fraudulent overseas money transfers. According to a statement from Iraq's Commission of Integrity, the recovery was led by the Second Karkh Investigation Court, under the […]
Dinars to Dollars: Bank praised for Efficient Dollar Distribution
By John Lee. Customers have reportedly expressed widespread satisfaction with the smooth and organized process of dollar distribution at branches of the state-owned Al-Rafidain Bank. The bank says it has been distributing $2,000 per pilgrim at the official rate of 1,320 IQD per dollar, as set by the Central Bank of Iraq (CBI). In a […]
Iraqi Entrepreneurs Participate in SelectUSA Investment Summit
By John Lee. A delegation of 46 Iraqi entrepreneurs and business leaders are participating in the SelectUSA Investment Summit, taking place in the US from May 11th to 14th. The event, which brings together investors, companies, and industry experts, provides a platform to explore investment opportunities in the United States. The Iraqi delegation aims to […]
Al-Uroush becomes Exclusive Distributor of Mazda Cars in Iraq
By John Lee. Al-Uroush Automotive has signed an exclusive distribution agreement with Japan's Mazda Motor Corporation. The signing ceremony, held in Hiroshima, Japan, was attended by Dr. Sabah Abdul Latif Salem, Chief Executive Officer of Al-Uroush, and Mr. Manabu Osuga, Global Sales and Marketing Director at Mazda. Under this strategic partnership, Al-Uroush will be the […]
Iraq Secures German Loan to Enhance Power Infrastructure
By John Lee. Iraq's Council of Ministers has authorized the Ministry of Finance to sign a loan agreement backed by German and other international export credit agencies. The funding will support the installation of three 400 kV and five 132 kV substations, as part of Phase II of the energy cooperation framework with Siemens Energy. […]