The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
At a ceremony in Basrah on Thursday (21st) the Iraq Britain Business Council Executive Chairman Baroness Nicholson signed a memorandum of understanding with the Governor of Basrah Dr Khalaf A Khalaf, signalling a new era of close co-operation. Dr Khalaf said the agreement meant: "Basrah regards the IBBC as the door to the UK." Meanwhile […]
By John Lee. The Ministry of Industry and Minerals has signed an 18-year contract with a Turkish company to run iron and steel plant in Basra. According to Steel Network, $700 million will be invested to bring production capacity to 1 million tonnes per year. Work at the plant, located in the Khor Al-Zubair, is […]
International developer EPGI has announced that they have been awarded the development management contract to develop and build the new Basra Oil and Gas International Free Zone in Iraq. The project is the second largest of its kind in the world covering over 11 million square metres, and is strategically located near the southern Iraq […]
By John Lee. The National Investment Commission (NIC) has awarded India's Welspun Corporation an investment licence to establish a factory for the production of iron welded pipes in Basra province. A press release from the Council of Ministers says that the cost of the project is $450 million [dinar?]. (Source: Cabinet)
The United Kingdom’s Trade Minister Lord Green met with local business leaders, British company executives, as well as the Iraq Britain Business Council representatives in Basrah today (23rd). The hour long meeting focussed on the security environment in Basrah and business opportunities for British companies in the region. Executives from IBBC member firms Mott Macdonald […]
The province of Basra has awarded Dewan Architects and Engineers the contract to design the sprawling Al Nakheel City, for which the foundation stone was recently laid. As a modern urban development, the Al-Nakheel City is expected to provide world-class and modern sustainable living, working, and living solutions for the population of Basra and help alleviate […]
By John Lee. Iraq's Council of Ministers has allocated 9,600 acres to create a new residential city in Basra. The statement from the Council's secretariat says that the plan is to create 100,000 new residential units in the city. (Source: Iraqi Cabinet)
By John Lee. Informed sources in Basra claim that the provincial government intends to open a border crossing with Saudi Arabia with the aim of increasing exports. Both NINA news agency and Aswat al-Iraq report that the crossing will be in the Ouja al-Batin area, northwest of Basra. The crossing is expected to be opened […]
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 […]
