The latest France – Iraq Business News – Total, Alstom, Cahors International and more – brought to you by Iraq Business News
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 […]
The French ambassador to Iraq visited Najaf on Monday in a move aimed at encouraging French investment in the area. AKnews reports that Denys Gauer (pictured) said in a press conference that he held talks with Najaf governor Adnan al-Zarfi about increasing the French contribution to the reconstruction of the region in the areas of […]
Alstom Grid has been awarded a €80 million contract from Calik Energy [Calik Enerji], a leading Turkish energy company, for the supply of electrical transmission equipment to be installed in two power plants being built in Iraq by Calik Energy. This contract is considered the largest one to date for Alstom Grid in Iraq. The […]
A project to build a 22km urban rail network in the Iraqi capital has been put on hold due to a lack of funds, an advisor to the Transport Ministry said on Tuesday. Karim Nouri told AKnews that the cost of the project exceeds this year’s federal budget allocation. The 14-station metro line was intended […]
Aswat al-Iraq news agency reports that Karbala's Provincial Council has decided on Monday to cut the electric power supplied to the cement plant run by French company Lafarge. “[The company] must get its power by itself and achieve an annual production of 30 million tons,” Tareq Gatifa al-Khikany, Chairman of the Council’s Economic Committee said. […]
French engineering group Alstom is in exclusive talks to build a high-speed rail line between Baghdad, French junior transport minister Thierry Mariani announced. "Alstom and the Iraqi railway have signed a memorandum of understanding to build a high-speed rail line between Baghdad and Basra," Mariani told journalists at the Paris International Airshow, according to a […]
According to a report from AKnews, Iraq has signed a preliminary deal with France for the development of Iraq’s airports. The French government has agreed to help with the construction of new buildings and the modernization of outdated equipment such as security scanners. A high-level delegation led by Transport Minister Hadi al-Amiri travelled to Paris […]
A five-year project for French engineering group Alstom to build an above-ground urban metro line in Baghdad will cost $1.5 billion [1.8 trillion Iraqi dinars] and be funded by the French government and banks, according to Reuters. The planned line will have capacity to carry 30,000 passengers an hour, will have 22 km (13 miles) […]
Iraq's Minister for Transport has said a tender to build an airport in the Middle Euphrates region is expected to be floated in October. According to Reuters, he could not give an estimated cost for the project, which will be located between the holy Shi'ite southern cities of Najaf and Kerbala, but other sources estimate […]
