Al-Turath Al-Areeq wins Contract UNDP
By John Lee. Alturath Al-areeq for General Contracting Co. Ltd has won a contract with the United Nations Development Programme (UNDP) for the "Rehabilitation of AlBojelly C.U 200 m3 /hr. in Yathrib-Salahdien Governorate." The basic scope includes civil and mechanical works. Contract value is stated as $184,885.79. (Source: UNGM)
Iraqi Speakership Returns to Sunni Hands
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraqi speakership returns to Sunni hands as political shifts underway Iraq's parliament has elected veteran lawmaker Mahmoud Al-Mashhadani as speaker. After a year of being held by a Shiite Muslim, the election returned […]
Designs Completed for $18bn Baghdad Metro
By John Lee. The Iraqi Prime Minister's Advisor for Transport, Nasser Al-Asadi, has announced the completion of route designs for the Baghdad Metro project, estimated to cost $18 billion. Speaking to the state-run Iraqi News Agency (INA), Al-Asadi highlighted the project's scale, noting collaboration with Baghdad Municipality to finalize financial arrangements with investors. The project […]
Proposed New Diwaniyah Refinery Project
By John Lee. Iraq's Ministerial Council for Energy has decided to major develop the Diwaniyah refinery, with a capacity of 70,000 barrels per day (bpd). The decision, along with five others that were not specified in the Oil Ministry's statement, will be submitted to the Cabinet for approval. An expansion of the plant to 70,000 […]
DNO reports Increased Oil Production in Kurdistan
By John Lee. On Thursday, DNO, the Norwegian oil and gas operator, reported a 24-percent increase in revenue to USD 170 million in the third quarter of 2024, with operating profit also higher at USD 31 million, up from an operating loss of USD 3 million in the previous quarter. Regarding operations in the Kurdistan […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 7th November 2024). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 2,212.1 3.3% 42.3% RSISX USD Index […]
Al Faw Grand Port: Five Berths formally Handed Over to Iraq
By John Lee. In a ceremony at Iraq's giant Al Faw Grand Port in Basra on Thursday, South Korea's Daewoo has handed over five new berths to the Iraqi state. The port is a key part of the planned Development Road project, which will connect the Persian Gulf with the Mediterranean Sea via Iraq and […]
Iraq Launches "Real Estate Developer Program"
By John Lee. Dr. Haider Mohammed Makiyya (pictured), Chairman of Iraq's National Investment Commission (NIC), has announced the country's first "Real Estate Developer" program aimed at providing affordable serviced residential plots for citizens, in partnership with the private sector. According to a statement from the NIC, this initiative aligns with government plans to alleviate the […]
Iraq's Basra Steel Plant Set for Year-End Launch
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Khaled Battal Al-Najm, supervised final preparations for the Basra steel plant, expected to begin operations by the end of this year. During his on-site visit, the minister oversaw the plant's final cold start-up phases, which utilize advanced technology from Italy's Danieli Group for steel and […]
Iraq's 2024 Budget "Not what it Appears"
Iraq Business News Expert Blogger, Ahmed Tabaqchali, has just published his thoughts on Iraq's budget, for the Atlantic Council. Delving beneath the surface of Iraq's budget framework, he uncovers how the 2024 tables both mirror and diverge from their 2023 counterparts. In essence, the budget's three-part examination sheds light on a disconnect between the projected […]
Al-Fityan to Rehabilitate Water System in Fallujah
By John Lee. Alfityan Co. for Contracting Ltd has won a contract with the United Nations Development Programme (UNDP) for the "Full Rehabilitation of Albo-Baker Water Complex 200m3/h with the Pipeline and Network in Saklawiya - Falluja." Contract value is stated as $542,040.56. (Source: UNGM)
Hungary and Bulgaria study Iraq's Development Road Project
By John Lee. Iraq's Minister of Transport has announced that Türkiye has established a four-party council, including Iraq, Hungary, and Bulgaria, to advance the Development Road project's connection with Europe. Razzaq Muhaibis Al-Saadawi told the state-run Iraqi News Agency (INA) that the initial designs for railway are complete, with final designs now underway. The expressway's […]