A total of 80 billion Iraqi dinars (ID), about US $67m, has been allocated to improve the roads in the capital Baghdad, the local municipality said on Tuesday. The money will be used to pave the main streets and highways in the capital, change traffic lights in central Baghdad and to continue construction work on […]
Tag Archives | Development
The latest Iraq Development News – government, economic, oil, companies, Baghdad & more – brought to you by Iraq Business News
Iran Strengthens Trade Links
Reuters quotes the Iranian Consul to Basra as saying that Iran hopes to double trade with Iraq to $8 billion this year, mostly in the construction, food and industrial sectors. Meanwhile, 60 companies participated in an exhibition of Iranian trade and industry in Basra City. The consul also told Aswat al-Iraq that, “Iran is working […]
Chinese Delegation Negotiates Projects in Karbala
A Chinese delegation has visited the Shiite city of Karbala, and expressed its readiness to conduct several projects there, Karbala’s first deputy governor said on Thursday. “The delegation, led by a Chinese businesswoman who owns a number of industrial companies, has finished its visit to Karbala,” Abbas al-Moussawi told Aswat al-Iraq news agency. The delegates […]
Kurdistan Attracts $12 Billion Investment
According to a report from Reuters, Iraqi Kurdistan's investment body says the region has attracted more than 12 billion US dollars from local and foreign investors in non-oil sectors over the last three-and-a-half years, mainly in housing. Of this $12 billion, $3.1 billion was from foreign sources, and this would been higher had a $6 […]
German Firms to Build Low-cost Housing in Baghdad
A number of German companies presented a proposal to build low-cost housing units in Baghdad, the Investment Commission of Baghdad said on Wednesday. The proposal was made during an investment conference held between German and Iraqi businesses. The Chairman of the Commission stressed the need for more investment in residential developments. (Sources: Aswat Al Iraq, […]
New Pipelines and Valves Factory for Basra?
Basra's Investment Commision is reportedly in discussions with an American company on a possible new factory to make oil pipelines and valves. The deal may involve a joint venture with Ibn Majed Iraqi Engineering Company.
Indian Company Considers Investment in Basra
Aswat Al Iraq reports that an Indian contracting company met with officials from the Basra Investment Commission on Tuesday to discuss possible ventures in the area. “The company has put forward several investment projects in the fields of housing, oil and agriculture to be implemented in the province,” the Commission told Aswat al-Iraq news agency. […]
New Infrastructure in Wassit
Six projects involving roads, bridges and a water unit, have been approved for Wassit province. Total value is approximately $26m. Additionally, the provincial council has signed a contract with a number of foreign companies to build housing units for teachers.
Cabinet Approves Law to Maintain Irrigation Networks
The Iraqi Council of Ministers has approved an amendment to the law no. 12 of 1995 related to the maintenance of irrigation networks. “The decision comes to show the government’s determination to preserve irrigation networks,” Dr. Ali al-Dabbagh, the official spokesperson for the Iraqi government, said in a release on Monday. He said that the […]
West Qurna Deal in the Bag
US super major ExxonMobil and its Anglo-Dutch peer Shell, today signed a final contract for the development of Iraq's 8.7-billion-barrel West Qurna Phase One oilfield The partners, who will work with an Iraqi state-run oil company, won the right to develop the super giant field in negotiations with the Oil Ministry last year following Iraq's […]
Mosul's Dam and Fears of Collapse Returns
Fears rise again regarding the collapse of Mosul's Dam and its passive impacts on the area amid serious attempts to contain the crisis and other governmental efforts to solve it. In a press conference held yesterday, Minister of Planning and Developmental Cooperation Ali Ghalib Baban said" there are projects and offers presented by international firms […]
Tags: Development, Public Works
$18 Million Electricity Projects in Basra – Official
U.S. reconstruction team has started implementing electricity projects in Basra with a total cost of $18.8 million to save energy and reduce the power cut, a general manager of Basra electricity said on Friday. “The projects include extending 14 cables with11kV power at a cost of $5.4 million to save power through the national net,” […]