The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
By John Lee. The governor of the southern Province of Basra, Khalaf Abdulsamad [Dr. Khalaf Abdul-Samad Khalaf] (pictured), is visiting the U.S. this week for talks with American firms considering investing in Iraq. At a private luncheon hosted today by the Bilateral US-Arab Chamber of Commerce in cooperation with the United States’ Departments of State […]
By John Lee. Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, today announced the start of services to Basra, its third destination in Iraq. Inaugural flight G90377 landed in Basra international airport today at 09:15 commencing the start of service to the Iraqi City. The carrier offers […]
By John Lee. A joint venture between the Indian companies Shriram EPC Limited (SEPC) and the Mokul Group has bagged an order worth $230 million for the supply and laying of basic sanitary systems in Basra. Shriram EPC, which is part of Shriram Group, is an integrated design, engineering, procurement, construction and project management services […]
By John Lee. The Basra Investment Commission has announced that the Industry Ministry signed a contract with the Turkish company UB Holding to rehabilitate iron and steel factories at a cost of $700 million. According to Aswat al-Iraq, the head of the commission said that the contract includes adding new production lines and increases annual […]
By John Lee. The Special Representative of the Secretary-General (SRSG) for Iraq, Mr. Martin Kobler, has concluded a two-day visit to Basra, where he met with the Governor, Dr. Khalaf Abdul-Samad, and with the Director of the Basra office of the Independent High Electoral Commission (IHEC), Mr. Hazim Joda. “This has been a very fruitful […]
By John Lee. Petronor, the Dubai-based international services company, is launching the second phase of Iraq Energy City (IEC), fully equipped international community in Basra, catering to the oil and gas industry. Located 20 minutes from Basra International Airport, IEC offers accommodation and commercial real estate to international companies looking to enter the Iraq market, according […]
By John Lee. A group of Iranian companies has announced its intention to invest in the industrial and oil sectors in Basra. The Basra Investment Commission says that $310 million dollars will be invested. The Iranian group's representative, Hussein Binae, siad the group will spend $60 million on a factory to make cables and electric […]
By John Lee. Bad weather on Sunday forced Iraq to cut exports from its southern oilfields from 2.35 million barrels to just 792,000 barrels. Port officials have said that things should start to pick up again on Monday, according to the report from Agenzia Giornalistica Italia. The same thing happened last week when adverse weather […]
By John Lee. Iraq's South Oil Company has announced the completion of new pipeline network connecting its sites in North West Basra and the floating piers in the Fao [Faw] area, south of the province. Director General Dhia al-Mussawi told Aswat al-Iraq that the new pipelines will pump oil from storage in Tuba to the […]
The United Kingdom's Secretary of State for Foreign and Commonwealth Affairs, William Hague (pictured), has announced the closure of the British consulate in Basra. In a statement to the House of Commons this morning, he explained the decision as follows: "Because of the improving security situation, it is now easier and safer for staff to […]
By Saleem al-Wazzan. 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. The number of squatters in Basra is growing by the day and tens of thousands live in local shanty towns. The settlements are impeding development projects […]
By John Lee. The Basra Investment Commission has licensed a cement factory in Umm Qasr, according to a report from Aswat al-Iraq. The $26-million project will have a production capacity of 3,000 tons of cement per day. (Source: Aswat al-Iraq)
