The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
By John Lee. The Kuwait National Cleaning Company has reportedly won a three-year, 207-billion-Dinar contract to remove trash from Basra city. According to a report from Alsumaria, the company beat six competitors from Germany, Lebanon, Turkey and Iran. The Governor’s advisor for services, Mohamad Jaafar, said: "Al Basra’s Governor, Majed Al Nasrawi, reiterated on numerous […]
By John Lee. French oil giant Total is reported to be considering building a "world-scale" petrochemical complex in Iraq. AFP reports that Patrick Pouyanne, the head of Total's refining and chemicals division, said he signed a preliminary accord with Iraq's industry ministry in November to examine the feasibility of the complex in Basra. "They are […]
By John Lee. The Iraqi government has allocated $4.7 billion to build power plants and finance existing electricity projects this year. Electricity ministry spokesperson Masaab Al-Mudarris told Zawya: "As part of its 2014 plan, the Ministry of Electricity requested a budget of $12 billion to complete existing projects and to sign new contracts to compensate for […]
By John Lee. Standard Chartered has announced the appointment of Ahmed Muallah as Managing Director and Head of its Wholesale Banking business in Iraq. Commenting on the appointment, Gavin Wishart, Chief Executive Officer, Standard Chartered Iraq said: “This appointment comes as another testament to our long term commitment to Iraq. Standard Chartered is bringing its best international financial business […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Changing Sea Lanes: Basra Wrecks Pose Ecological and Political Risks One of Iraq’s most important waterways is littered with sunken wrecks and the debris of past conflicts. Some, like […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Mister, Can You Spare a Dinar? Life with the Beggar Mafia of Basra Some estimates suggest that almost a third of the residents in one of Iraq’s oil-richest cities […]
By John Lee. Oilfield services company Baker Hughes Incorporated has warned the markets that it will take a hit of $80 million as a result of the disruption to its operations in Basra. The company said in a statement: "Following the disruption to its business in Iraq during the fourth quarter, Baker Hughes resumed operations […]
By Robert Tollast. Robert Tollast is a consultant at Noorbridge, a Helsinki based consultancy with staff in London and Nasiriyah, Iraq. He has written extensively on security, politics and economic issues in Iraq for various publications, and is currently researching a modern history of Iraq with support from The Middle East Forum. email: [email protected] twitter: […]
By John Lee. London-based Aegis Defence Services has been selected by the Governor of Basra to provide him and his Security Committee with support in the procurement of enhancements to their security. A formal contract was signed recently in Basra between the Governor and Aegis Chief Executive Graham Binns (pictured), who as a Major General […]
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In an interview with Al-Monitor, Basra governor Majid al-Nasrawi confirmed that his city had contracted a British security consulting firm (whose name he would not disclose before the completion of the contract) […]
By John Lee. Dubai-based MAG Container Lines (MCL), a division of the multinational MAG Group, has added three new automated vessels to its existing fleet on the UAE-Iraq route. According to the report from TradeArabia, the addition of the Al Hussein, MAG Bride (pictured) and MAG Pearl boosts the company's potential capacity on the route by 60 […]
By John Lee. The Basra Investment Commission has reportedly approved a number of projects including the construction of a 25-storey hotel and a shopping mall. According to a report from Zawya, Commission Chairman Ali Gasib said the luxury hotel would be located near the Shatt Al Arab river, while the shopping facility would be situated […]
