The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
The Governor of Basrah, Dr Khalaf A.S. Khalaf was guest of honour at IBBC’s Iraq Day Mansion House conference in London where he pledged to lead Basrah’s “ renaissance,” and make the port city the leading centre of trade not only for Iraq, but the Gulf region. Dr Khalaf brought a strong delegation from the […]
Basra Provincial Council announced on Tuesday the formation of a group that includes 100 local businesses to invest in Faw Port "to preserve the sovereignty of Iraq". Council member Walid Qitan said: "The efforts of businessmen in the province resulted in the cooperation of major public companies to invest in Faw Port in order to […]
Dubai contractor Drake & Scull is reported to be close to winning a $300 million contract in Iraq. Chief executive Khaldoun Tabari said the contract will be the construction of an oil and gas pipeline in Basra, reports Reuters. “We are very close to finalizing the deal,” he said. Drake specializes in mechanical, electrical and […]
Danish company Phoenix International has signed an $86m (100 billion IQD) contract with Basra Investment Commission for the production of oil pipelines. AKnews reports that Phoenix was granted the project licence for a 250-acre area in the town of Umm Qasr, in southern Iraq. The licence is for 35 years, which is subject to renewal. […]
Iraq has issued a tender for the building of a breakwater to the south of Basra on the Persian Gulf, the first stage of construction of the giant $6 billion Grand Faw port scheme. The closing date for the tender is 15th July, and offers will be opened on 16th July, while interested companies are […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
More than $5m (5.8bn IQD) worth of fuel is stolen each month from the amount allocated to three Turkish barges that produce power in Basra, a government investigation has revealed. According to the report from Aknews, Iraq's Electricity Ministry announced the discovery following an ongoing investigation into fuel theft. The Inspector General of the Ministry, […]
Iraq's Minister of Reconstruction and Housing, Mohammed al-Daraji [Darraji] (pictured) has announced details of the new Zubair Residential Community in Basra province. The project will be built on a site of 56 donums (14 hectares )at a cost of 119 billion Iraqi dinars ($102m). The entire project includes two blocks: block A with 8 flats and […]
His Excellency Dr Khalaf Samad Khalaf (pictured), Governor of Basrah, is guest of honour at IBBC’s Iraq Day Conference at London’s Mansion House on May 17th 2012 attended also by executives from the world’s leading corporations including major oil and construction companies. As rising oil sales supercharge the Iraqi economy Dr Khalaf’s keynote address will […]
There was a slight rise in the number of attacks recorded in Iraq last week but the overall number of casualties fell from the previous week. At least 26 people were killed and 62 injured in nationwide incidents. A total of 31 bomb attacks left 11 people dead and 57 injured while small arms fire […]
Dorce Prefabricated Building and Construction Industry, Trade INC. has successfully completed numerous international projects to date and has began construction of 5 new projects in Mauritania and Iraq. The company's General Manager, Suheyla Cebi Karahan, emphasized the importance of these projects with the following words, "Dorce has the ability to follow a high quality policy […]
The Director General of Iraq's State Company for Iron and Steel has announced a deal with a Turkish company to rehabilitate its factory at the Khor al-Zubair complex, about 45km south of Basra, according to a report from Azzaman. The plant, which was built by a french company in the early 1970s, and was once […]
