The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
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 […]
According to this report from NIQASH, many believe the original Garden of Eden, as described in both the Koran and Bible, is located in Basra. Increasingly though climate change, water shortages and urban sprawl mean Basra’s farmers are coming to doubt that story. War and conflict have led to the loss of many farms and […]
Al-Iraqiya television has reported that Iraq is threatening to take the case of Kuwait's Mubarak al-Kabir Port to the United Nations if the harbour violates its maritime rights. An Iraqi Technical Delegation, led by the government’s Advisor, Thamer al-Ghadban, reportedly arrived in Kuwait on Sunday for a 2-day official visit. Bloomberg reports that Prime Minister […]
Iraq is to get high-speed trains linking the provinces, a senior official at the Ministry of Transport said. Talking to Aknews, deputy transport minister Bangin Rekani explained their desire for extensive railways and 240km/h trains. The plans have been presented to the cabinet for approval. The railways, which will provide a huge boost to the Iraqi […]
Basra province is planning to build a 3000-megawatt power generation station in a coastal area overlooking the Gulf, Basra's governor's adviser announced on Wednesday. Central regulations prevent the local provinces from contracting for power generation stations more than 30 megawatts, but the governor has called on the central government to give permission to enter direct […]
