Egypt's Orascom Wants to Invest in Karbala
The Egyptian firm, Orascom, is ready to invest in the housing sector in Karbala, the company’s representative said on Wednesday. “Our company can construct more than 10 housing units in Karbala,” the representative told Aswat al-Iraq news agency. He noted that a similar project was finalized in Egypt in eighteen months. (Source: Aswat al-Iraq)
SDV Takes on the Logistics Challenge in Iraq
Following the opening of a representative office in Baghdad, with branches in Zakho and Basrah, SDV has become the first European logistics group to be based in Iraq. This confirms SDV’s continuous commitment to this market for over 12 years. The reconstruction of infrastructures (oil & gas, water supply, sanitation,…), which cater for the country’s […]
Flydubai Names Erbil As Newest Destination
Flydubai, Dubai's first low cost airline, has announced flights to destination number 22, Erbil in Iraq. Flights to Iraq's third largest city and capital of the Kurdish region of Northern Iraq, will start on Friday, July 16. Flydubai's CEO, Ghaith Al Ghaith, said, "Erbil is reinventing itself and undergoing an economic boom with new hotels, […]
Iraq to Export Gas by 2015
Further to the gas deal signed with Shell and Mitsubishi (see our report here), BusinessWeek reports an Iraqi government spokesman as saying that gas output will probably exceed the nation’s domestic demand for power generation by 2015 or 2016, allowing the country to export gas in liquid form. Natural gas is produced as a by-product […]
Refining Iraq's Economy
Within five years, Iraq will turn from an importer of petroleum products into the world’s largest exporter, according to the Oil Ministry’s new investment map, unveiled in Nassiriyah this week. To achieve this, Iraq has opened the door wide for international companies to build four new refineries and refurbish existing ones in order to boost […]
Grain Production Exceptional This Season
The grain production in Iraq this season is exceptional, as a total of 1.6 million tons have been marketed, according to the general director of the state-owned seed company. “The company continues to receive wheat and barley crops throughout the provinces, which reached 350,000 tons,” the trade ministry said in a statement received by Aswat […]
Diyala's Integrity Commissioner Accused of Corruption
An Integrity Commission member from Diyala's Province Council has accused the Integrity Commission Chief of corruption, because he enlisted some people to participate in foreign training courses who were not Commission members. "The Integrity Commission Chief, Amer Karkhi, has been charged with corruption. The Provincial Council has formed a committee to investigate the situation," Zyad […]
$300m "Squandered" in Diyala for Electricity
An advisor to the governor of Diyala revealed on Thursday that the sum of $300 million was “squandered” in payments to Iran for the supply of electricity. “Iran’s Karmanshah line that supplies Diyala with electric power since 2004 caused the waste of $300 million paid to the Iranians, despite beign a mediocre service that provides […]
Head of Basra Investment Commission "Dismissed ... Re-appointed"
According to several sources, the administration of Basra province council has dismissed the director of Basra Investment Commission, Dr. Haider Ali Fadhil. Ahmed Ali, a member of the committee, was appointed in his place. Meanwhile, Alsumaria TV reports that Dr. Fadhil was dismissed by Basra's governor, but that the Council has objected to the dismissal […]
Multi-billion Gas Deal with Shell and Mitsubishi
Iraq's cabinet has approved a multi-billion dollar deal with Royal Dutch Shell and Japan's Mitsubishi Corp. The deal, signed on Tuesday, will provide much needed electricity from natural gas that is currently being burned off. The State-owned South Gas and Basra Gas companies in southern Iraq will take a 51 percent stake in the contract, […]
Iraqi Pipeline Fire Put out
Iraqi firemen put out a fire caused by a bomb explosion in northern Baghdad on Tuesday, according to a report from Xinhua News Agency, citing an Iraqi security forces spokesman. The attack took place earlier in the day in the al- Rashediyah district just north of the Iraqi capital, sparking a huge fire, said Qassim […]
Iran's TCI Offers to Help Iraq Telecom Sector
The managing director of the Telecommunication Company of Iran in Kurdestan province, Mohammad Saeed Ahmadi, told Fars News Agency that his company was ready to help upgrade the telecommunication infrastructure and fiber-optic systems in Iraq's northern regions. "In addition to fiber-optic projects, we have the ability to undertake all kinds of telecom activities in the […]