The latest business news from Karbala, Iraq – oil, power, rail, housing projects & more – brought to you by Iraq Business News
By John Lee. An Iraqi firm is to carry out the first big residential project in eastern Karbala, at a cost of $63 million (76 billion Iraqi dinars). Abbas Nasser Hassani head of the reconstruction and strategic planning committee of the Karbala council, told Aswat al-Iraq news agency: "An Iraqi firm was awarded the license […]
By John Lee. Vehbi Orakçı (pictured), a former mayor of Istanbul’s Beylikdüzü district, has reportedly signed a $600-million deal for a construction project in Baghdad. “The project includes nearly 6,500 buildings, 325 offices, 325 residential apartments and a 60,000 square-meter shopping center. The total cost is $600 million, but the sales volume is expected to […]
By John Lee. The large format banner printer was the last piece of equipment to arrive, completing the first round of printer purchases for the Karbala Printing and Marketing Service Center, culminating many months of planning and hard work by the staff of the Karbala Business Development Center (KBDC). Thanks to funding from the KBDC […]
The director of Karbala Investment Commission, Taef Abdul Hussein, has announced that an Iranian company will shortly build a waste recycling plant 10 km south of Karbala city. According to the report from Aswat al-iraq, the $48 million plant will process glass, wood and fertilizers, and will produce electricity. As a result of religious tourism, the city […]
The Karbala Printing and Marketing Service Center has gone from a dream, to a concept, to a proposal and will soon be a reality for the Karbala Business Development Center (KBDC). The KBDC recently signed a Performance Grant Agreement with the USAID-Tijara program for funding to establish the Marketing Service Center in Karbala. The KBDC […]
The Director General of the Private Transport Section of the Ministry of Transport, Mr. Abdullah Laibi, outlined the opening of the new $14 million passenger terminal adjacent to Karbala airport. Designed to ease congestion between Najaf and Karbala, the new 2,000 car parking facility integrates accommodation, restaurant facilities making access to the airport for pilgrims […]
Three Turkish citizens alleged to have been involved in selling counterfeit currency were arrested by security forces in Karbala today, reports AKnews. Karbala police said the three, from the Hay al-Sinaei area, 2km east of Karbala, sold counterfeit US dollars as part of a foreign exchange (forex) operation. Security forces seized more than $5,000 in […]
The Turkish company Çalık Enerji will open its 250 mega watt Khairat power station at the beginning of July, the first of 20 stations Iraq hopes to build around the country, reports AKnews. The Deputy Prime Minister for Energy, Hussein al-Shahristani, made the announcement today and told AKnews that the Ministry of Oil will provide fuel […]
The Australian ambassador to Baghdad, Lyndall Sachs (pictured), said her country supports the lifting of United Nation's Chapter VII sanctions on Iraq, a decision on which is expected to be made by the UN Security Council in June. Sachs said: "My country has good relations with Iraq, in particular [because] it received the largest Iraqi communities […]
Iraq's National Investment Commission (NIC) re-announced on Thursday the details of the new Kerbala Monorail, and invited interested parties to contact them: Length of the line (18 KM) Project Type (Monorail) - High Concrete mono rail of two ways known locally as Kerbala Monorail. Number of stations (20) the distance between each station and another […]
The Iraqi Oil Ministry has denied any changes to Karbala's refinery, as reported by its spokesman. Asim Jihad told Aswat al-Iraq that all agreements on Karbala's refinery site were set with the Transport Ministry, and denied reports that the site had been changed due to its proximity to Al-Furat Airport. Karbala's Energy and Fuel Commission […]
Bloomberg and Reuters report that Iraq has invited foreign companies to compete for a $450 million monorail project in the southern holy city of Kerbala [Karbala]. The city, 80 km (50 miles) southwest of Baghdad, hosts the shrines of two Shi'ite imams and hosts millions of Shi'ite pilgrims each year at several major religious rites. […]
