The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
By John Lee. The Iraqi Council of Ministers has approved an increase in the consultancy contract amount for the Basra Refinery Development / Fluid Catalytic Cracking (FCC) Project with Japan's UNICO and France's Technip. The decision also includes an extension of the contract duration, granted as an exception to Government Contracting Instructions No. (2) of […]
By John Lee. Iraq's Prime Minister Mohammed Shia Al-Sudani launched the execution phase of multiple school construction projects in five provinces via video conference on Sunday, as part of Phase One of the Eduba Project, implemented through the private sector under the Iraq Development Fund. The first phase includes school construction in: Sabaa Qusour, Baghdad […]
By John Lee. The Central Bank of Iraq (CBI) has announced General Tender No. (1/2025) for the supply, installation, and operation of 65 currency counting and sorting machines for its branches in Basra (35 units) and Mosul (30 units). The contract, with an estimated value of IQD 1.134 billion (approx. $865,000), will be financed from […]
By John Lee. Hilal Al-Iraq Al-Muntazar General Contracting Limited Liability Company has won an Engineering Design and Construction contract with the United Nations Assistance Mission for Iraq (UNAMI) for "paving access roads in Basra." Contract value is stated as $551,475. See our Comprehensive Guide to Construction Equipment in Iraq here. (Source: UNGM)
By John Lee. The Iraqi Ministry of Industry and Minerals has secured government approval to establish a fully integrated phosphate fertilizer complex in Anbar and a sponge iron plant in Basra, marking what it describes as a major step in reviving the country's strategic industries. According to a ministry statement, the Higher Committee for Reconstruction […]
By John Lee. Basra's Deputy Governor for Administrative Affairs, Maher Al-Amiri, has confirmed that a committee is continuing its visits to hospitals in Turkey under the directives of Governor Asaad Al-Eidani. The committee is evaluating healthcare services in Turkish hospitals to prepare a comprehensive report on selecting the best medical facilities for the resumption of […]
By John Lee. Basra Governor Asaad Al-Eidani (pictured) has reportedly announced the launch of Madinat Al-Nakhil [Palm City], a major residential and developmental project in Iraq. Planned for over a decade, the eco-friendly city will span 54 nature reserves and 34 additional dunams, featuring 120,000 housing units, universities, and industrial zones aimed at reducing carbon […]
By John Lee. Saudi Arabia cafe chain Kyan Café has opened its first branch in Iraq. The outlet in Basra will initially open from 2:00pm until midnight, but has plans to extend this to 24 hours. It is Kyan's 356th store worldwide. (Source: Kyan Café)
By John Lee. The Iraqi Cabinet has approved a Heads of Agreement (HOA) with US-based Halliburton for the development of the Nahr Bin Omar [Nahr Bin Umar, Nahr Ben Umar] and Sindbad oil fields in Basra. According to a statement from the Media Office of the Prime Minister, the project will employ Integrated Field Management […]
By John Lee. A ceremony in London marked the signing of several Memorandums of Understanding (MoUs) between Iraqi public and private sector entities and British companies and institutions. The event was attended by senior Iraqi officials, including Deputy Prime Ministers, the Minister of Foreign Affairs, and the Minister of Oil. Key agreements included: A Memorandum […]
By John Lee. Prime Ministers Keir Starmer and Mohammed S. Al-Sudani have unveiled an ambitious £12.3 billion [$15 billion] UK-Iraq trade and investment package aimed at enhancing prosperity and bilateral economic ties. The agreement represents over a tenfold increase in trade compared to last year and underscores both nations' commitment to strategic collaboration across key […]
A shipbuilding executive has highlighted the need for shipyard development in Iraq's Basra governorate. Speaking recently at TEDx Baghdad, Abdullah Shaban, Executive Manager and Shipbuilding Engineer at Al Zaman Group, emphasised that Iraq remains the only Arabian Gulf nation without shipyard facilities, citing inadequate infrastructure as the primary obstacle. He outlined three key benefits of […]
