250 Iraqi State-Owned Plants to be Privatised
Iraq issued tenders to redevelop "more than 10" industrial plants as part of a plan to revamp 250 state-owned facilities through private investors, an industry ministry official said, according to a report from Bloomberg. Deputy Minister Mohammed Abdullah Mohammed said the plants are mainly producing cement, petrochemicals, steel and pharmaceuticals, and the contracts are for […]
Zain Shares Rise on Etisalat Approach
Etisalat, the state-controlled telecommunications company of the United Arab Emirates, has made an offer to acquire a large stake in Zain, Kuwait’s largest operator, which has mobile telecom operations in Iraq. The Financial Times reports that Zain, which is partially owned by Kuwait’s sovereign wealth fund (24.6%) and the country’s Kharafi family (13%), has been […]
Aigle Azur Announces Paris-Baghdad Route
Bloomberg reports that French private airline Aigle Azur will start flights to Baghdad next month. France’s ambassador to Iraq, Boris Boillion, said “Aigle Azur will start flights between Paris and Baghdad in October". Aigle Azur, the oldest private airline in France, flies about 1.6 million passengers to about 30 destinations mostly around the Mediterranean and […]
Iraq to Buy 1,000 Police Dogs from US
The Iraqi Interior Ministry says it is negotiating the import of 1,000 police dogs from the United States. “The ministry will sign a contract for the purchase of 1,000 police dogs to help police in their searches for explosives,” said Brigadier Salah Abdulsultan, according to a report from Azzaman. Abdulsultan said Iraq currently has 32 […]
ABB Pays $58m to Settle Corruption Case
ABB, the Swiss-Swedish engineering group, has agreed to pay more than $58m to settle criminal and civil charges in relation to alleged payment of bribes and kickbacks in Mexico and Iraq. The Swiss-Swedish engineering group was charged by the US with conspiracy and violating the Foreign Corrupt Practices Act. Prosecutors alleged that ABB and its […]
Turkish Delegation Plan Two New Factories in Baghdad
A U.S.-Turkish delegation met the Chairman of the Baghdad Investment Commission on Wednesday to discuss the establishment of two factories for gypsum and Pepsi, according to a statement of the BIC. “The BIC Chairman, Shaker al-Zamel [Shaker A. Shibeeb], received a delegation from a U.S.-Turkish company to set up two factories to produce gypsum and […]
Russian Company to Invest in Maysan Gas
An initial agreement has been reached with a Russian company to invest in gas produced from the Missan oilfields, the Chairman of the local council’s energy committee said on Tuesday. “The agreement will help to increase the revenues allocated to the province, and to meet the local demand, in addition to using the gas produced […]
$733m Contract Awarded for Basra Oil Terminal
Iraq's cabinet has just approved a $733 million [880 billion Iraqi dinar] deal to build a new oil export terminal in Basra, a spokesman for the Iraqi government said on Tuesday. The work will be carried out by Leighton Offshore Private Ltd., which was selected from four international companies invited to tender for the project. […]
Gulftainer to Spend $500m at Basra Ports
Gulftainer, in collaboration with a local Iraqi company, launched a new container-dock project in Basra on Monday, with the aim of increasing capacity at the port by about 58,000 tons per year. The Emirati company will initially invest $24m [29 billion Iraqi dinars] in the project, according to the report from AKnews. Gulftainer's Director, Peter […]
Shell/Mitsubishi Iraq Gas Deal Delayed
The Iraqi cabinet has delayed finalising a multibillion-dollar deal with Anglo-Dutch giant Royal Dutch Shell and Japan's Mitsubishi to capture gas from Basra's oilfields because of legal issues related to the joint venture, AKnews reports. The cabinet already approved the planned $12 billion investment in June, but it is now waiting to sign the final […]
Jordan Hoping to Triple Oil Imports from Iraq
Jordan is hoping to triple oil imports from neighbouring Iraq to help meet domestic demand, the Jordanian energy minister, Khalid Irani, has said. The country currently imports almost all of its energy needs, and has asked Iraq to increase supplies of crude transported by truck from the current level of 10,000 barrels a day to […]
Mott MacDonald Wins Iraq Gasfield Contracts
Mott MacDonald has been appointed by BGR Energy Systems to carry out detailed engineering and procurement support for the Akas and Al-Mansuria gas fields which are being developed by the State Company for Oil Projects. The project is being developed to meet the growing demand for gas within Iraq. The gas produced from the two […]