By John Lee. The Iraqi Ministry of Electricity has announced a plan to enhance Baghdad's power grid ahead of summer 2025, including the installation of 74 new substations and the rehabilitation of 900 distribution feeders (33/11 kV). The initiative aims to address growing electricity demand and reduce outages. During a meeting with Baghdad Provincial Council […]
By a Guest Blogger. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Anecdotal evidence, including inquiries to Iraq Business News, seems to suggest that supporters of US President-elect Donald Trump are more likely to believe that the Iraqi currency, the Dinar (IQD), will increase […]
By John Lee. The Central Bank of Iraq (CBI) has announced its strategic focus on enhancing the capabilities of the Loan Guarantee Company [Iraqi Bank Guarantees Company (IBGC)] to support the banking sector and "bolster financial depth." Dr. Ammar Hamad Khalaf, Deputy Governor of the CBI, highlighted this priority during the 8th International Guarantee Conference […]
By John Lee. Iraq's Ministry of Electricity has signed a contract to construct three power substations in Basra Province. Funded by the World Bank, the project will add 3x90 MVA capacity at 132 kV, enhancing grid reliability, balancing loads, and reducing bottlenecks. According to a statement from the Ministry, the project will be executed by […]
By John Lee. Iraq's Minister of Industry and Minerals, Dr. Eng. Khaled Battal Al-Najm, reaffirmed the government's commitment to international cooperation to revitalize the country's industrial sector. This statement came during his meeting with Bulgaria's Ambassador to Iraq, Mr. Nikola Draganov. The discussion focused on strengthening industrial collaboration, reactivating the Iraq-Bulgaria Joint Committee, and preparing […]
By John Lee. The Central Bank of Iraq (CBI) announced an expansion of foreign currency transfer options for local banks, adding the Jordanian Dinar and Saudi Riyal to the list. Iraqi banks are now also permitted to fund trade with Turkey in Euros, previously restricted to transactions with EU countries. These currencies join the existing […]
By John Lee. Iraq's Minister of Electricity, Eng. Ziyad Ali Fadhil, chaired a technical meeting with Harlow International and China's SEPCOIII Electric Power Construction Corporation [SEPCO3, Shandong Electric Power Construction No. 3], the developers and funders of the giant Al-Khairat Steam Power Plant project in Karbala Province. A Ministry statement said the plant, with a […]
By John Lee. The American University of Iraq-Baghdad (AUIB) has announced that it has received a $2.1 million grant from the U.S. Department of State. According to a statement from AUIB, this grant will aid AUIB's efforts to revolutionize higher education in alignment with Iraq's National Education Strategy. The funding will establish two groundbreaking initiatives: […]
By John Lee. The Iraqi Ministry of Electricity, in collaboration with the U.S. Department of Commerce's Commercial Law Development Program (CLDP), organized a two-day workshop in Baghdad to explore best practices in financial modeling for energy production projects. Key attendees included Dr. Abdul Hamza Hadi, ministry advisor, and specialized staff from various departments and companies. […]
By John Lee. The Iraqi Ministry of Oil has announced the completion of a 13-kilometer crude oil pipeline to supply fuel to the Haritha [Hartha?] Power Station in Basra Province. The pipeline, with a 12-inch diameter, was built by the Oil Pipeline Company. According to the company's director, Ali Abdul Karim Al-Mousawi, the technical and […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting on Monday to finalise preparations for the third phase of the Baghdad Historical Rehabilitation Project. This phase focuses on restoring Al-Midan, Al-Rusafi Square, and Al-Rasheed Street, areas central to Iraq's modern history. Aligned with Baghdad's recognition as the Arab Tourism Capital for 2025, the […]
By John Lee. The Iraqi Drilling Company (IDC) has completed drilling a new injection well in the Siba Gas Field in Basra Province. The well, drilled to a depth of 1,215 meters, marks the first project completed under a contract with Kuwait Energy. Kuwait Energy recognized the drilling team's exceptional performance, awarding them for completing […]
