Iraq Mulls Kurdistan Expense Claims
The federal government could end up paying for exploration and extraction costs of oil companies working in Iraqi Kurdistan on a cost only basis said Iraqi Oil Minister Hussain Shahristani today. "We will not pay any profits to the companies but we will look into the bills for the work they carried out," Reuters quoted […]
Deal Expected for Baghdad Underground
A deal with a French company will soon be concluded to supervise a project to build an underground railway in the capital Baghdad, the local mayor said. “Companies from the United States, Russia, Germany, France and South Korea will be invited to submit their final bids for the project after a contract is signed with […]
6 Service Projects in Karbala
Six service projects with a total cost of 2.548 billion Iraqi dinars (roughly $2 million) were approved for implementation, according to a local official on Sunday. “The projects will be hopefully finalized by local firms in six months’ time,” Abbas Nasser Hassani, the Karbala Provincial Council’s Reconstruction & Strategic Planning Committee Chairman, told Aswat al-Iraq […]
Solar-powered Drinking Water Stations for Wassit
Twenty-four solar-powered potable water stations will be built in a number of villages in Wassit, “The stations, with a capacity of 1-5 cubic meters per hour, will be established in 14 districts and towns,” Majed al-Atabi told Aswat al-Iraq news agency. He added that the stations will save a lot of electricity, as they rely […]
French Undertake the Import and Marketing Tasluja Cement Factory
A statement issued by Media National Center quoted a well- informed official in the Ministry of Trade as saying" DG of State Company for Constructional Material Trade, engineer Abdul Muhsin Anbar al- Rikabby, has signed a contract with the French YCC firm to import and market cement from the Tasluja Cement Factory in Suleymaniyah province. […]
Banks to Offer Loans to Government Personnel
The Iraqi Ministry of Finance has given instructions to the Rasheed and Rafidayn banks to grant loans to full-time government employees. “The amount available is 5 million Iraqi dinars with an interest rate of 6% to be repaid within five years,” an under-secretary of state for banking affairs, Diyaa al-Khayoon, told Aswat al-Iraq news agency.
Gazprom to Offer $10 Bn of Bonds
Russian "Gazprom" plans to issue $ 10 billion bonds 2010 to 2015. The organizer and the Under-guarantor of the bonds to be found by competitive tender. It is expected to raise between $ 167 million and $ 334 million at a nominal value of $ 33 .33 for a period of between one and three […]
British Firms in Basra Investment Conference
British and Iraqi companies have attended a Basra-based conference on investment opportunities in the province, a local official said on Saturday. “The conference was organized by the Basra Investment Commission in cooperation with Amar al-Khayr Organization at Manawi Pasha Hotel,” the head of the commission, Haydar Ali Fadel, told Aswat al-Iraq news agency. “The event […]
New Project to Build Oil Refinery in Basra
Iraq Directory reports that Basra's Director of investment, Haider Ali Fadel, said on Wednesday that the Authority is currently considering a proposal from a local investor to build an oil refinery in the province. He stated that the Basrah Investment Commission is prepared to send all requests for the establishment of such projects to the […]
Power Pylons to Up Capacity to 363 MW
An agreement has been reached on Friday with a Turkish exporter of ready-to-use power pylons to increase capacity from 240 to 363 megawatt (MW) in Basra, according to the provincial council’s electricity committee chairman. “The capacity of one pylon, due to arrive in the port of Umm Qasr soon, will be upped from 105 to […]
Lukoil in Talks on Developing Giant Oil Field near Basra
Azzaman reports that Russian energy giant Lukoil is discussing with local officials in Basra the details of implementing its contract to develop the West Qurna-2 oil field. Governor Shaltah Aboud is reported to have promised the Russians “to engage in full cooperation and do his best to remove all obstacles.” “We have discussed with Russia’s […]
$300m to Improve Water Supply in Baghdad
The Baghdad municipality has allocated 353 billion Iraqi dinars (about $300 million) to improve and extend drinking water networks in the capital. A total of ID226 billion ($190m) has been earmarked to establish a water purification center at the Rasafa Water Project, according to a statement received by Aswat al-Iraq news agency. (Aswat Al Iraq)