The latest business news from Karbala, Iraq – oil, power, rail, housing projects & more – brought to you by Iraq Business News
North Last week saw violence concentrated in Mosul, although attacks were also recorded in Tal ‘Afar, Kirkuk, Hawijah and Riyadh. Civilians and the Iraqi security forces bore the brunt, but with eight recorded fatalities the week was less bloody than normal for what is otherwise one of the most hostile parts of the country. In […]
Iraq is prepared to stump up for the cost of building one of the four refineries planned if investors can’t be found, the Deputy Oil Minister, Ahmed al-Shamma, has said, according to a report from Bloomberg. The total value of the refinery-building program is variously stated as $9bn and $20bn, depending on the source. The […]
The Chairman of future projects coordination in Karbala province, Hani al-Yasari, has confirmed that the Turkish Universal Acarsan Co. has completed the first stage of the modern hospital project in al-Herr district the province. He told NMC that the seven-floor hospital, to be built over 65 acres in 33 months, includes 492 beds initially, expanding […]
Karbala's local government has signed a contract with a Danish company to install five new electrical generators in the province. The head of the Strategic Planning and Constructing committee, Abbas Nasser Hassani told AKnews that a delegation from Karbala local government signed the contract with Danish company Simko, which has offices in Turkish capital, Ankara. […]
Iraq plans to build four new refineries with an announcement expected in 2011, the country's deputy Oil Minister Motassam Akram Hassan said on Sunday, adding that the bidding round could be conducted for all four refineries at once. Reuters reports that total expenditure on the four plants is expected to be at least $9 billion. […]
UAE-based Metito has signed a contract worth 33 billion Iraqi Dinars ($28.3 million) with Al Mustakbal Al Saeed (MSGC) for increasing its provision of potable water across Iraq. MSGC said the contract is for design and construction of Hindiyah water treatment plant located just east of the city of Karbala. The project aims to supply […]
Karbala Council has issued an appeal to its citizens not to pay the new domestic electricity tariffs introduced by the Ministry of Electricity this month, according to AKnews. The head of Karbala’s energy and fuel commission, Zuhair Samil al-Da’mi, told the agency that the ministry’s ten-fold increase was “completely unfair” in the light of the […]
German companies have offered to build 1,000 low-cost housing units in Karbala within an integrated housing neighborhood project for a total cost of $16.5 million, according to a report from Aswat al-Iraq. “A delegation representing a German consortium offered to Karbala's Governor Amal al-Din al-Hirr, and Provincial Council Chief Muhammad Hameed al-Moussawi, a project consisting […]
The city of Karbala in central Iraq has stretched its 90bn-dinar budget ($75m) to hundreds of investment projects and has now been granted another 12bn dinars ($10m) by Iraq's Finance Ministry. As our blogger Stewart Blair wrote this month: "UAE property developers/investors have been active in the south where mixed use developments in Karbala are springing up […]
Iraq is to get new power plants in order to boost its energy capacity by 2,500 megawatts, reports Reuters. This will significantly add to its meagre total current production, which is around 5,500 megwatts. All the contracts for the 20 gas turbines, which were bought from General Electric, have been awarded to three Turkish companies. The contracts are […]
Eleven projects worth 21 billion Iraqi dinars (roughly $17.8 million) were approved for implementation next year in al-Hindiya district, eastern Karbala, according to Hindiya's Mayor. “The local administration gave the thumbs up to 11 projects as part of the Provincial Development Budget (PDB) in al-Hindiya, (20 km) east of the city of Karbala, for implementation […]
Karbala's Investment Commission signed a Memorandum of understanding (MoU) on Saturday with eight Romanian companies to implement a number of housing, agricultural and industrial projects in the province. “The projects includes the construction of 1,000 building units over an area of 10 hectares [40 donums] equipped with all facilities as well as the building of […]
