The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
The Director General of the South Oil Company said on Wednesday that they plan to build a fifth floating oil pier when the four currently under construction are completed. Aswat al-Iraq reports that the four piers are expected to be finished by late-2013 or early-2014. The first of these piers will start exporting oil at […]
Levels of violence fell slightly in Iraq over the past week, with incidents concentrated in Baghdad, Mosul, and an arc stretching from Taji in Salah ad-Din province to Ba’qubah in Diyala province. Ta’mim province also saw a scattering of incidents while there was at least one successful attack and one prevented in Basrah province. The […]
Australia is planning to open a consulate in the oil-rich province of Basra in order to boost Australian-Iraqi business relations in the area, according to a report from AKnews. Australia's Ambassador to Iraq, Lyndall Sachs (pictured), is currently visiting Basra to examine the possibilities for a consulate, as well as for an airline connection. "This […]
Iraq has awarded a $523 million [612 billion Iraqi dinar] contract to expand oil export facilities in the south of the country to Leighton Offshore, a subsidiary of Australian firm Leighton International, according to AFP. Leighton is the Australian unit of Germany construction group Hochtief. The project must be completed within 16 months and will […]
High-ranking officials from Iraq and the Netherlands have met to discuss Dutch participation in developing Iraq’s sea-ports, according to a report from Contstruction Weekly. Omran Radi, the director of the State Company of Iraq Ports and Yaron Rodenberg, the Dutch ambassador to Iraq, met this month to explore potential cooperation and work together to develop […]
A delegation from the Indian company Jindal recentlty visited Basra Investment Commission and presented an industrial investment project to construct a plant for pipe production and coating. The assistant director of the company revealed that the investment capital of the project is 200 million dollars and that the project requires an area of 160 acres. […]
The Qatari petroleum company, Woqod, has revealed a plan to invest in the oil sector through the construction of oil warehouses for logistic support to oil companies in Basra. The representative of the company, Mr. Khaleel Hassan, said during his meeting with the deputy chairman of Basra Investment Commission that his company has several similar […]
Azzaman reports that the Ministry of Industry and Minerals has asked South Korean firm Daewoo to rehabilitate its steel industry, which has been idle for more than three decades. Iraq had built one of the Middle East’s largest steel complexes, called the State Company for Iron and Steel, near the port of Umm Qasr, about […]
The Chairman of the Development Committee of Basra Council announced on Friday that he had completed a 1.58 trillion Iraqi dinar [$1.3 billion] plan for the province. Mustapha Attiya told Aswat al-Iraq that the figure “covers the allocations granted for Basra Province, including the Region’s development budget, as well as the revenues of the petrodollar […]
Officials in Basra have reportedly blocked a $500m power generation deal with Korea's Hyundai, because of the company's involvement with the controversial Mubarak Port in Kuwait. The project was due to be launched on Thursday. Ayad al-Amara, an official spokesman for Basra Governorate told AKnews that the Governorate has decided to stop work with all […]
The governor of Basra has laid the foundation stone for a new 120-room hotel in the city. The new hotel, which will have 7 floors and will include two restaurants, will be built at a cost of $14 million [17 billion Iraqi dinars] on a site covering 3.5 acres. According to the Basra Investment Commission, […]
The Iraqi Transport Ministry said on Wednesday that the designs for Grand al-Faw port will be ready in less than a year. AKnews reports that the statements said that all the necessary preparations have been made to initiate the construction of the port including the financial allocations and the technical and engineering staffing. Iraq announced […]
