The latest France – Iraq Business News – Total, Alstom, Cahors International and more – brought to you by Iraq Business News
Following Total's statement on Friday that it was considering possible investments in Iraqi Kurdistan, Deputy Prime Minister for Energy Hussain al-Shahristani warned the French major on Sunday that it would bear the "full consequences" if it did. "The position of the Iraqi government will be the same as with the other oil companies, that no company […]
Iraqi Ministry of Agriculture has completed a $30 million deal to purchasing nine helicopters from a French company, according to AKnews. Kareem Tamimi, a spokesman for the ministry, said the deal was brokered initially two years ago, but did not mention the name of the company. The French company will deliver one helicopter every three […]
The Sunday Times, citing unidentified industry sources, reports that French oil and gas producer Total is close to securing exploration rights over several exploration blocks in Iraqi Kurdistan. A deal could be announced within weeks, according to the newspaper. Chevron and ConocoPhillips are also believed to be competing for rights in the semi-autonomous region, following […]
Patrick Kron, Chairman and Chief Executive Officer of Alstom, and the Iraqi Vice Minister of Electricity, His Excellency Salam Kazzaz, signed on 11 December, in the presence of His Excellency Karim Aftan El Jumaily, Minister of Electricity, a contract worth approximately €400 million to build the 728 MW Al Mansuriya gas-fired power plant in the […]
Lafarge plans to triple cement production over the next two to three years at its plant in Karbala, according to Bloomberg. Eric le Blan, Acting Chief Executive Officer of Lafarge's partner MerchantBridge, told the agency that production at Karbala would increase from 576,000 tons of cement per year to at least 1.8 million tons by 2013 […]
AFP reports that the Iraqi cabinet has approved a $540 million contract for French firm Alstom to build a 182.4 megawatt gas power plant in central Iraq. Ggovernment spokesman Ali al-Dabbagh said in a statement that the plant, which should be up and running 18 months after the signature of the contract, is to be […]
French engineering group Alstom has been awarded a contract to build an electrical power plant worth $550 million in Iraq, reports Reuters. The award of the Mansuriyah plant contract was announced as part of a visit to Iraq by French Trade Minister Pierre Lellouche. "The Iraqi Deputy Prime Minister confirmed ... the award of the […]
The State Company for Oil Projects (SCOP), part of the Iraqi Ministry of Oil, has awarded the French-based Axens, a fully-owned subsidiary of IFP Energies nouvelles, the Basic Design and License contracts for the construction of the new refinery in Nassiriya, Iraq. Axens will supply the following process technologies for the refinery: H-Oil RC technology […]
Iraq has recovered $116 million [139 billion Iraqi dinars] from bank accounts in France belonging to an official from ex-dictator Saddam Hussein's regime, the country's Commission on Integrity said in a statement. The Commission said the funds comprised $106 million deposited in 'French Arab Union Bank' (UBAF), a French-registered bank whose shareholders include 19 Arab […]
Iraqi's Ministry of Electricity signed a contract on Saturday with French conglomerate Alstom to build a power generation plant in Nineveh province at a cost of approximately $94 million, according to AKnews. The Ministry said the plant will begin generating by the end of 2012. Reuters reportst that the deal requires Iraq to pay 10 […]
A French company began construction work on Tuesday on a $15 million luxury hotel in Nineveh’s Shallalat area, 10 km north of Mosul, according to AKnews. The Investment Commission's media spokesman told the agency that the 200-room hotel will be the first of its kind in the region. “The implementation of the project comes after […]
A French magistrate has decided to send giant Frence oil company Total and its chief executive to trial on charges that the company engaged in corruption during the United Nations oil-for-food program in Saddam Hussein's Iraq, according to Reuters. The magistrate is sending the company to trial on charges of corruption and involvement in fraudulent […]
