Tag Archives | Basra Investment Commission

Denmark's Phoenix Bags $86m Basra Pipeline Contract

Danish company Phoenix International has signed an  $86m (100 billion IQD) contract with Basra Investment Commission for the production of oil pipelines. AKnews reports that Phoenix was granted the project licence for a ​​250-acre area in the town of Umm Qasr, in southern Iraq. The licence is for 35 years, which is subject to renewal. […]

Investment Commission Website Hijacked

It might not seem so important in a country faced with such major post-conflict challenges, but getting the basics of communication right should be a necessary function of any government department or state agency. A key element of communication has to be the website, but it is remarkable how many Iraqi government websites are out […]

Turkey Considers Investment in Basra

The Turkish Consul in Basra, Farouk Qaimagja, and the Commercial Attache of the Turkish Embassy, met the head of Basra Investment Commission to discuss ways of boosting economic and trade cooperation. "The consul, accompanied by representatives of a number of Turkish companies, reviewed with local officials in Basra ways of attracting Turkish investments to the province […]

Delegation from BIC Visits Lebanon

A delegation from the Basra Investment Commission, headed by the BIC chairman Eng.Haider Ali Fadhil, visited the headquarter of Traders Association in Al- Nabatiyeh Province, South Lebanon. The delegation was accompanied by Eng. Hassan Jabir. The head of the association welcomed the delegation referring to the joint cooperation between Iraq and Lebanon; he appreciated the […]

Croatian Companies Visit Basra

A delegation representing Croatian companies visited the Basra Investment Commission this week to study the available investment opportunities in Basra. They discussed the possibility of obtaining investment projects in various sectors, and said that Basra represents a major target for international companies, especially in the oil sector. They also invited the Governor of Basra and […]

Basra Approves 6 New Projects

The Basra Investment Commission has approved six projects from Iraqi and Arab investors in the areas of housing, industry and tourism. The projects include construction of a $9.7m (11.3bn IQD) ready-mix concrete plant and a $9m (10.5bn IQD) plant for producing construction thermostone (isolating cement material). Other projects include a $81,500 (95m IQD) Nakhil tourist […]

Basra Officials Inspect Residential Project

The head of the Basra Investment Commission (BIC) and a number of local officials inspected the Modern Basra City project, implemented by the US-based Wadi Sawa International in al-Sabkh region, near the Sports City. "Basra's governor, accompanied by the head of the BIC, hailed the project's design and the ongoing work which includes the establishment […]

Iraqi Firm Signs $245m Housing Deal in Basra

The Iraqi company 'al-Saqr al-Jareh' has won a $245 million contract to build 1,857 housing units in the northern outskirts of Basra city. Khalaf al-Badran, president of the Basra Investment Commission, said that the project is to be completed within five years. Basra province needs 200,000 additional residential units. (Sources: Basra Investment Commission, Bloomberg)

Basra Approves Another 1857 Housing Units

Basra Investment Commission has approved a project to build 1857 housing units in the Rabet Kabir area. According to AKnews, the investment is valued at $108 million, while Aswat al-Iraq puts the figure at $250 million. An Iraqi company called Falcon is leading the project. The 90 four-storey buildings will accomodate  1440 flats with an […]

Basra Welcomes Plans for $100m Waste Plant

The Basra Investment Commission has approved a $100 million waste plant to be built by Dow Chemical's Kuwait branch, according to AKnews. The company, which already has plants in Kuwait, Saudi Arabia and Qatar, will enter Basra and invest in water purification projects and will consider providing environmental solutions, professional consultation and technical services. Waste […]