The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
By John Lee. A senior Spanish official has said that Spain is cooperating with Iraq to extend the railway from Basra to Egypt's Sharm El-Sheikh. State-run Iraqi News Agency (INA) quotes Alicia Rocío Varela Donoso, Director General of International Trade and Investment for Spain, as saying: "There are very good companies in the field of […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully drilled and rehabilitated four new oil wells in the Zubair oil field in Basra. The Deputy Director General of the company, Kazim Habash Khalif, said technical teams completed the drilling of a 3,598-meter well for the Zubair Field Operating Authority, boosting field production capacity. Three […]
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 […]
By John Lee. In 2021 the Ministry of Planning's Central Statistical Organization (CSO) in partnership with the United Nations Development Programme (UNDP) and with funding from the United States Agency for International Development (USAID) has conducted a study on Micro, Small, and Medium-Enterprises (MSMEs) in Iraq. The Survey covered the three governorates of Baghdad, Basra, […]
By John Lee. The Iraqi Cabinet has approved the minutes of the technical committee of the Iraqi Railways Company tasked with negotiating with the Spanish company Imathia for the construction of the Basra-Shalamcheh railway line. A statement from the Prime Minister's Office said, "the contract will be finalized, considering the Legal Department's remarks, and the […]
By John Lee. Saudi Arabia's Ambassador to Iraq, Abdulaziz Al-Shammari, is quoted as saying that a commercial representation office for Saudi Arabia is being established in Erbil, as part of broader efforts to strengthen trade ties between Saudi Arabia and Iraq. The office will function under the commercial consulate in Baghdad. In a statement to […]
By John Lee. Iraq's Prime Minister, Mohammed Shia' Al-Sudani, emphasized the importance of private sector partnerships to reduce reliance on imports and meet domestic industrial needs. On Thursday, Al-Sudani oversaw the signing of three industrial contracts with private companies to boost production in the fertilizer and chemical sectors: A 1 million ton/year urea fertilizer plant […]
By John Lee. The Iraqi Drilling Company (IDC), in collaboration with Schlumberger (SLB), has completed the drilling of well ZB 606 at a depth of 3,463 meters in the Zubair oil field in Basra. This marks the 36th well drilled under a contract with Italy's ENI to drill 37 wells. The well was drilled using […]
By John Lee. Iraq's Minister of Industry, Khaled Battal Al-Najm, discussed the contract procedures with China's Tsingshan Holding Group for the development of a specialized industrial city focused on iron and steel production in Basra. The meeting, held on Monday with ministry officials and the Chinese delegation, reviewed the steps and details involved in finalising […]
By John Lee. The Iraqi government has approved an additional 60-day period to submit letters of guarantee to companies contracted to manage and operate the new hospitals: Nasiriyah Teaching Hospital (492 beds); Imam Al-Mujtaba Hospital in Karbala; and Al-Sayyab Hospital in Basra. This extension is an exception to the Government Contracts Implementation Instructions No. 2 […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has inaugurated a joint management program for modern hospitals at Najaf Ashraf Educational Hospital. This initiative, in collaboration with Italy's Gruppo Ospedaliero San Donato (San Donato Hospital Group), aims to reduce the need for Iraqis to seek medical treatment abroad and save substantial costs. The program will […]
By John Lee. Iraq's Deputy Prime Minister for Energy and Minister of Oil, Mr. Hayan Abdul Ghani, has opened a new road in the Abu Sakhir area and a high school in the Al-Zubair district of Basra Province. The inauguration ceremony took place on Thursday and was attended by the Deputy Minister for Extraction Affairs, […]
