The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
Basra Investment Commission has approved a project to build 1857 housing units in the Rabet Kabir area. According to AKnews, the investment is valued at $108 million, while Aswat al-Iraq puts the figure at $250 million. An Iraqi company called Falcon is leading the project. The 90 four-storey buildings will accomodate 1440 flats with an […]
A Basra iron and steel company will be given $700m (816 trillion Iraqi dinars) over the next 15 years by Turkish backers, reports AKnews. After visiting the factories of the General Company for Iron and Steel [State Company for Iron and Steel (SCIS)], a delegation from Turkish company United Brothers made a proposal to increase […]
Levels of violence fell in Iraq last week. At least 18 people were killed and 48 injured in nationwide incidents, making it the quietest week in at least two months. A total of 26 bomb attacks left six people dead and 41 injured. They were mainly low-yielding in terms of casualties and were likely designed […]
The Basra Investment Commission has approved a $100 million waste plant to be built by Dow Chemical's Kuwait branch, according to AKnews. The company, which already has plants in Kuwait, Saudi Arabia and Qatar, will enter Basra and invest in water purification projects and will consider providing environmental solutions, professional consultation and technical services. Waste […]
Last year the oil-rich state of Basra announced it wanted more independence from Baghdad. This year it changed its mind. Decision makers say the timing is wrong, critics say Baghdad put locals under pressure, according to this article from NIQASH. Any opinions expressed are those of the author, and do not necessarily reflect the views […]
Iraq plans to ship 17 cargoes of Basrah Light crude oil from the Persian Gulf in the first half of February, according to a loading program obtained by Bloomberg. This would be two cargoes more than in the second half of January. A total of 28.06 million barrels, or 1.87 million barrels a day, will be […]
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 […]
The Basra Investment Commission (BIC) has announced that it granted 30 investment licences in 2011 worth a total of 1.1 billion Iraqi dinars. Head of the Commission, Khalaf al-Badran (pictured), said that many foreign countries submitted proposals to invest in the province, including companies from the United States, United Kingdom, China, South Korea, Turkey and […]
A delegation from the Iranian Farast Group visited the Basra Investment Commission (BIC) and met its chairman, Khalaf Al-Badran. They discussed the possibility of obtaining investment opportunities in various sectors, including housing and electricity. The representative of the group, Ridha Mudhahari, said that his group includes 78 foreign and local specialized companies and that they […]
Reuters reports that Iraq has signed a $235-million electricity deal with a subsidiary of Turkey's Enka Insaat to install a 500-megawatt power plant in the Al-Najibiya district of Basra. The company will install four General Electric (GE) gas units, each with a capacity of 125 megawatts, within the next 16 months, said electricity minister Karim Aftan. […]
Reuters reports that a Japanese consortium is planning to build and operate a $2 billion fertilizer plant in Basra. Citing an article from Japanese business daily The Nikkei, they say the Japan International Cooperation Agency (JICA) will provide up to 150 million yen ($2 million) to Mitsui, Toyo Engineering Corp and Tokyo-based consulting firm Unico […]
International learning and skills specialist Atlas has expanded the global footprint of facilities capable of delivering the groundbreaking new global training initiative IMIST for the oil and gas industry with the approval of the first centre in Iraq. The accreditation of the Al Delma facility in Basra City demonstrates Iraq’s commitment to developing its energy […]
