The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
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 […]
Iraq plans to start shipping crude from the first of its three new offshore export terminals in the Gulf at the start of February, according to Reuters. The new single-point mooring (SPM), which will boost export capacity by 900,000 barrels per day, was due to start operation on 1st January, but testing of new pipelines has […]
Basra Investment Commission (BIC) has granted seven licenses for a variety of projects in the fields of housing, trade, industry and tourism. The Head of the Commission, Khalaf al-Badran, said in a statement, that these projects will provide thousand of work opportunities and will improve social standards in the province. The total value of the […]
Basra Investment Commission (BIC) has agreed in principle to build an iron and steel factory worth of $150 million (175 billion IQD). AKnews reports that it is a joint proposal by Erbil Steel Company and a Turkish company. Khalaf Badran, head of the BIC, told AKnews that the Commission has expressed its "full support" for […]
The EIC is organising an oil and gas trade mission to Basra in Iraq. Missioners will have the opportunity to attend organised group meetings with key local players, as well as incorporating a briefing meeting presented by qualified speakers with in-market experience and the opportunity to meet with local companies. Why Iraq? As Iraq works […]
Basra Investment Commission has announced a new investment opportunity for the establishment of power plant in the Hartha area. The new plant will have a capacity of 100 MegaWatts. Companies interested in this opportunity should contact Basra Investment Commission for more details: [email protected] (Source: Basra Investment Commmission)
Basra Council has signed the contract for the construction of 12,000 housing units in the Shatt al-Arab district. The local government allocated 1,600 acres to the project, which is expected to be started within the month and completed within two years. It is to be carried out by a UAE-based company named Kika (?). The […]
