The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
The Chairman of Basra Investment Commission said that the commission had granted 12 new investment licenses during 2010, which is the same number of projects licensed in 2009. Haidar Ali showed that the value of housing projects exceeded $500 million [600 billion Iraqi dinars], while the value of industrial projects was more than $245 million. […]
Violent protests have broken out at various locations in Iraq, with anti-government protesters rallying against corruption, poor basic services and high unemployment. Basra: In the country's second largest city, about 1,000 people protested on Friday, demanding better services, jobs and improved pensions. They called for the provincial governor to resign, and blocked a bridge for […]
Works are underway to build a 640-unit housing project in the Shatt al-Arab district at a total cost of 58 billion Iraqi dinars [$50m], according to a local source in Basra on Thursday. “The project envisages 640 housing units, on an area of 56 donums [14 hectares], and would take two and half years to […]
According to a report from Iraq's National Media Centre, the new port at Faw [Fao], when completed, will reduce transport costs between Europe and Asia. Salah al-Khadir said the project will shorten the distance between Iraq and the other countries of the world, and especially the vessels coming from Asia to Eastern Europe, indicating that […]
The head of the Arab Gulf Studies Center in Basra University said on Monday that the center will hold a seminar to discuss the economic feasibility of the planned Faw port to be built in the Ras al-Bayshah area of Basra province. The center's director, Jassim Ghali Roumi, told AKnews that the seminar commissioned by […]
Trends in 2010 demonstrated that violence is still a concern in Iraq. With opportunities for investment arising in 2011 the outlook for the country is fast improving, but companies looking to take part in Iraq’s economic redevelopment will have to take security into consideration if they are to succeed. Weekly Violence The above chart shows the […]
Iraq signed deals worth $52 million with France's Schneider Electric and Areva to build 15 power distribution stations in the southern oil hub of Basra, the province's deputy governor, Ahmed Hameed, said on Sunday. Schneider Electric, has won a $29 million contract to build eight distribution stations, while Areva was awarded a $23 million deal […]
South Korea's STX Heavy Industries concluded a deal with Iraq for a petrochemical plant in the southern city of Basra, according to Aswat al-Iraq. A Basra official said.“The delegation discussed with the governor the mechanism to implement a memorandum of understanding the company signed with the industry ministry to rehabilitate the petrochemical complex in Basra.” The […]
As Baghdad ponders fewer checkpoints, oil exports sent by sea face more checks. The capital has 870 security checkpoints, which have been blamed for slowing an already congested city down and inhibiting productivity. Some commuters must stop at half a dozen checkpoints each morning, sometimes waiting for an hour at just one of them. Many residents find […]
With a new Iraqi government now finally formed, Basra's desire for a referendum on becoming semi-autonomous may finally get past Baghdad's stalling tactics. The Iraqi constitution allows provinces to become semi-autonomous, just like the northern region of Kurdistan. The Associated Press reported on the pros and cons, writing that Basra would be able to stop […]
Overview Levels of violence rose last week in Iraq as Shi'ahs marked al-'Ashura. Pilgrims travelling to the holy city of Karbala were attacked on several occasions, in Baghdad and the central provinces, although Karbala itself saw little in the way of violence. The police arrested numerous suspected militants ahead of the event and many potentially […]
Italian oil company ENI plans to invest in Basra province in the fields of economy, science, and sport. Basra's Governor says the company dedicated about $ 5 Million to implement several projects to enhance relations with Basra and its citizens, he added that the company is ready for real investments in agriculture and cattle projects, […]
