The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
Bloomberg reports that Iraq plans to start work in the next three weeks on offshore oil facilities in the southern part of the country, where export capacity is due to more than double by mid-2012. Export capacity will rise to 4.5 million barrels a day by mid-2012 from the existing capacity of 1.8 million barrels […]
The Russian and German ambassadors to Iraq said on Monday that their countries want to open consulates in Basra in order to develop economic relations with the provincial government. The news was announced following the two ambassadors’ visit to the governor of Basra province, Shiltagh Abboud, yesterday. The German Ambassador to Iraq, George Christian, told […]
The Chairman of future projects coordination in Karbala province, Hani al-Yasari, has confirmed that the Turkish Universal Acarsan Co. has completed the first stage of the modern hospital project in al-Herr district the province. He told NMC that the seven-floor hospital, to be built over 65 acres in 33 months, includes 492 beds initially, expanding […]
The business associations and economic organizations in Basra, in collaboration with the International Private Projects Center, have held a conference to review the problems experienced by the private transport sector in the province. Abdul Saleh Saheb, the supervisor of the Conference and Vice-President of Businessmen's Union, told AKnews that the conference aims to review the […]
The group of US investors held talks with local officials in Basra about establishing a tourist project on Sindbad Island [Sinbad Island], a source told Aswat al-Iraq news agency on Wednesday. A delegation from the group discussed the project with Basra's Governor, Shaltagh Abboud, and Deputy Chairman of Basra Council, Ahmad al-Sulieti. “The project includes […]
The University of Salford, in the United Kingdom, is to work with the University of Basra, Iraq, to set up a centre for research in the built environment, with the aim of providing skills and knowledge as the country seeks to rebuild. As the UK’s leading research centre for built environment, Salford will help the […]
Egypt's ambassador to Baghdad, Kamal Shaheen, has said that he wants to re-open a consulate in Basra province soon. He told NMC that this decision reflects a desire to deepen relations with Iraq. He added that many Egyptian investors and businessmen visited Baghdad to review investment opportunities, and their next step was often to visit […]
U.S. engineering firm World Solutions International (WSI) has unveiled a $220 million [257 billion Iraqi dinars] contract to build 2,500 housing units in Iraq, which is battling a housing shortage and in desperate need of investment. The engineering and construction company, based in Maryland in the United States, said on Thursday the units would include […]
Basra's Council approved an energy project worth 288 billion dinars [$246m] on Thursday, a vice president of the Basra council told Aswat al-Iraq news agency. “The council approved during its regular session an energy project to establish four generating units with a production capacity of 400kv (sic) at the al-Najiebiya electricity plant,” Ahmad al-Salieti is […]
The outgoing Iraqi government announced on Friday that the demarcation of borders on the Shatt al-Arab will begin at the beginning of November under the supervision of the United Nations (UN), according to AKnews. The Shatt al-Arab is where the Tigris and Euphrates rivers meet and flow into the Persian Gulf. Ahmed al-Shihani, foreign affairs […]
The director of the Media Department of the Iraqi Ports Directorate said on Sunday that the ports department had studied the possibility of closing Maqel [Maaqal] port, but concluded that it is not feasible because of the large financial revenues generated by the port and the ease of transfer of goods through it. Anmar al-Safi […]
The International Organization for Migration (IOM) Iraq Mission has signed an agreement with the United Nations Office for Project Services (UNOPS) to set up a project to support local private and semi-private Business Development Service (BDS) providers in the Governorates of Anbar, Basrah and Erbil. The project aims to develop sustainable business models and engage […]
