The latest news from Basra – renovation, building, investment & more – brought to you by Iraq Business News
Iraq's cabinet has just approved a $733 million [880 billion Iraqi dinar] deal to build a new oil export terminal in Basra, a spokesman for the Iraqi government said on Tuesday. The work will be carried out by Leighton Offshore Private Ltd., which was selected from four international companies invited to tender for the project. […]
Gulftainer, in collaboration with a local Iraqi company, launched a new container-dock project in Basra on Monday, with the aim of increasing capacity at the port by about 58,000 tons per year. The Emirati company will initially invest $24m [29 billion Iraqi dinars] in the project, according to the report from AKnews. Gulftainer's Director, Peter […]
Basrah is central to the biggest oil and gas projects that will be taking part in Iraq over years to come and in order for contracts to go ahead, approval and consent is needed from the local authorities for projects to commence. Iraq Mega Projects 2010 Conference & Exhibition, taking place in Istanbul, Turkey, on […]
The new Sheraton Hotel in Basra was formally opened on Saturday, with a large gathering in attendance. But as we recently reported, the company in charge of building the hotel has run into problems with the tourism board in Basra because the project was not completed on time. The general supervisor of Summar Company, Sara […]
A Belgian dredger has arrived at Umm Qasr on Wednesday to work on increasing the depth of the shipping channel. The vessel is the 18,620 tonne trailing suction hopper dredger, the 'Francis Beaufort'. It is 142m in length, and has a maximum dredging depth of 71.5m. The report from AKnews says the project was facilitated […]
Iraq's South Oil Company, working with the IOCs, has set quarterly production targets for the country's southern oilfields for 2011, according to documents obtained by Reuters. Production is targeted reach an average of nearly 2.3m bpd by Q4 2011. Oilfields Q1 Q2 Q3 Q4 Rumaila 1,175,000 1,201,000 1,226,000 1,250,000 West Qurna 1 260,000 270,000 285,000 […]
More than 150 local and foreign firms will participate in the Basra Construction International Fair that will take place by the end of this month, according to a report from Aswat al-Iraq. “Most of the participating firms are either foreign or Arab,” said a local source. The fair will start on Sept. 24th and end […]
Germany's Siemens is eyeing up electricity investments in Basra. “A delegation from Siemens met today (Sept. 2) with officials of the provincial council’s electricity committee to discuss ways to carry out projects in the power sector in Basra,” Ziyad Ali told Aswat al-Iraq news agency. “The delegation expressed readiness to carry out power projects in […]
The project manager of Sheraton Hotel in Basra confirmed on Thursday that the Integrity Board suspended the Sumar company after it reached its final stages, because the company did not hand over the project on time. Wameeth Abass, an engineer on the project, told AKnews, "The Integrity Board suspended our work with the Sumar Company […]
The Dutch ambassador to Iraq, Peter van Leeuwen, visited Basra province to discuss investment opportunities with local officials. “During the visit, the ambassador had a close look at investment project and opportunities that could attract Dutch firms to Iraq,” the Basra Investment Commission said in a statement on Tuesday, as received by Aswat al-Iraq news […]
Iraqi Airways is planning to initiate its new service between Basra and Mash’had [Mashhad] in eastern Iran, according to a Transportation Ministry statement on Tuesday, quoted by Aswat al Iraq. "The Transport Minister, Amer Abdul-Jabbar, has instructed Iraqi Airways to initiate a route between southern Iraq’s Basra and Iran’s Mash’had from September 9, 2010, with […]
A delegation of Russian companies met with the chairman of Basra Council on Thursday to discuss investment opportunities in the city, a media official of the Basra council said. "A delegation of Russian companies’ representatives held a meeting with Jabbar Amin, with whom they discussed investment opportunities in the city," Hashem Ubeidi told Aswat al-Iraq […]
