Hyundai Offers Lowest Bid for Najaf Power Plant
South Korea's Hyundai Heavy Industries has tendered the lowest of six bids for the construction of a 500-megawatt natural-gas fired power plant in Najaf, an Iraqi Electricity Ministry official said. According to Bloomberg, Hyundai bid $158.9 million for the work; Metka SA (METTK) of Greece, Turkey’s Enka Insaat & Sanayi AS, Lanco Infratech Ltd. (LANCI) […]
Baghdad International Car Fair Opens
The General Company for Trade and Commercial Services opened a car show at the Baghdad International Fair in the presence of the Trade Ministers, Khairallah Hassan and the Labor and Social Affairs minister, Nassar al-Rubaie. According to AKnews, the Director of the General Company for Trade and Commercial Services , Sadiq Hussain Sultan, said in […]
$5m Training Centre Proposed for Basra
A delegation from Al-Rahmani Group visited Basra Investment Commission (BIC) and presented a plan to construct a technical training centre in a cost of $5 million [6 billion Iraqi dinars]. The executive chairman of the group, Eng. Raid Al-Rahmani, said, "our plan includes the construction of a training centre to develop the local working staff […]
Basra Investment Licence for Water Plant
Basra Investment Commission has granted an investment license for a company in the health sector, Ghadir, to construct a plant producing bottled water. The plant consists of a building on an area of 300 m2 as well as machines and equipment to produce 40,000 bottles per day. Total cost is estimated at 775 million Iraqi […]
Grain Board of Iraq Tenders for Wheat
The Grain Board of Iraq (Ministry of Trade) has announced a tender for the supply of 100,000 tonnes of wheat. The deadline for bids is 10:00 am Baghdad time on 23rd April. Please click here to download the tender details.
Halliburton Wins ExxonMobil Contract for West Qurna I
Halliburton has been awarded a contract by ExxonMobil Iraq Limited (EMIL) to provide drilling services for 15 wells in the West Qurna (Phase I) oil field located in Southern Iraq. Halliburton will provide a complete range of well construction services utilizing three drilling rigs to safely deliver the wells. Joe Rainey, president of Halliburton's Eastern […]
Taxation of Foreign Suppliers in Iraq
By Anthony V Raftopol. This article was originally edited by, and first published on, www.internationallawoffice.com - the Official Online Media Partner to the International Bar Association, and International Online Media Partner to the Association of Corporate Counsel, and European Online Media Partner to the European Company Lawyers Association. Register for a free subscription at www.internationallawoffice.com/subscribe.cfm […]
$42m Additional for Services in Baghdad
The Mayoralty of Baghdad has said that it will provide 50 billion dinars [42 million Iraqi dinars] as an additional allocation to improve services in the capital. "The extra allocations will be used to improve services, including drinking water, sewerage, roads and agriculture," the mayoralty said in a statement quoting Engineer Naeem al-Kaabi, responsible for […]
Iraq to Merge Industrial and Trade Ministries
The economic commission of the Iraqi parliament has proposed merging the Ministries of Trade and Industry to support the Iraqi economy through improving the local production and enhancing Iraq's abilities. Ahmed al-Alwani, Chairman of the Committee told AKnews that the integration of these ministries is done in all international economically and commercially developed countries. In […]
Gulf Keystone Announces Annual Results
Gulf Keystone Petroleum (AIM: GKP), the oil and gas exploration and production company operating in the Kurdistan Region of Iraq, has announced its results for the year ended 31 December 2010. HIGHLIGHTS Financial Summary · Loss after tax $26.0 million (2009: $96.3 million) · Loss per share 4.17 cents (2009: 22.80 cents) · Cash, cash equivalents […]
More Iraqi Red Tape for Foreign Workers
The Ministry of Labor and Social Affairs has said it will require foreign companies operating in Iraq to ensure that local Iraqis make up at least 50% of their work force, in a bid to reduce unemployment in the country. Official figures indicate that Iraq has more than 25% unemployment with unofficial statistics indicating up […]
Egyptian Steel Mill for Diyala
Diyala Province Administration has approved an offer from an Egyptian company to build a new steel and stainless steel mill in the province. The local administration informed the Egyptian company to send a delegation to the province in order to study the details of the project. (Source: AlSumaria TV)