The Iraq Britain Business Council (IBBC) took a significant group of members on a trade mission to KRI this week. Paramount was the need to review business opportunities and investment in the region and to learn directly from the Prime Minister Barzani his plans for business and industry. The group, led by Baroness Nicholson, UK […]
From Peace to prosperity: The Conference to find out what’s happening for Iraq business. The Iraq Britain Business Council (IBBC) Autumn Conference in Dubai on December 8th is set against a backdrop of relative peace and security in Iraq, and the prospect of oil revenues surging through the economy is driving a wider range of […]
By John Lee. Germany's Siemens and Egypt's Orascom Construction signed an agreement with Iraq’s Ministry of Electricity to rebuild Baiji 1 and Baiji 2 power plants in northern Iraq. The plants will have a combined generation capacity of 1.6 gigawatts (GW) when completed and are a major step in Siemens’ roadmap for rebuilding Iraq's power […]
By John Lee. Iraq's Cabinet of Ministers has approved a loan agreement between the Federal Ministry of Finance, Standard Chartered Bank and the German Deutsche Bank for the purpose of financing the construction of 13 secondary substations (132) kV, and the supply of 35 high voltage transformers with the German company, Siemens, for the Ministry […]
Siemens, the Iraqi Ministry of Health and the Directorate of Health in Salah ad-Din Province have announced the completion of building repairs and the impending installation of Siemens medical equipment at the Al-Tawheed Center. The clinic, located in Baiji, has been fully renovated by the Ministry of Health and will be equipped with Siemens technology […]
Germany's Siemens has received an order to supply the key components and long-term power generation services for the 840-megawatt (MW) Maisan combined cycle power plant in Iraq. CITIC Construction Co., Ltd., the Chinese engineering procurement and construction firm building the plant, and Iraqi developer MPC, part of Raban Al-Safina for Energy Projects (RASEP) awarded the […]
By John Lee. General Electric (GE) is reportedly expected to win a large share of the multibillion-dollar contracts to rebuild Iraq’s electricity system. According to a report from Reuters, "under U.S. prodding, Iraq is asking both Siemens and GE to bid on contracts and expects to make awards to each of the companies". Following a […]
By John Lee. Prime Minister Adil Abd Al-Mahdi has met with German Foreign Minister Heiko Maas and his accompanying delegation during a visit to Baghdad. The Prime Minister expressed his desire to deepen relations with Germany, and cited in particular the signing of a road map for the electricity sector with Siemens. Minister Maas expressed […]
Germany's Siemens and the Iraqi Ministry of Electricity have agreed on the award of contracts valued at approximately EUR 700 million for Phase 1 of their "Iraq Roadmap", covering short-, mid- and long-term addition of new highly-efficient power generation capacity, rehabilitation and upgrade of existing plants, and the expansion of transmission and distribution networks. The […]
UK International Trade Secretary Dr Liam Fox MP has visited Baghdad for a three-day visit (Sunday, 14 April to Tuesday, 16 April 2019) where he met with the Iraqi Prime Minister and announced that UK Export Finance (UKEF) will make an additional £1 billion of support available for British firms operating in Iraq, providing jobs […]
UK Export Finance (UKEF) will support a €30.2 million contract for the refurbishment of Al Mussaib power station in southern Iraq, the UK government has announced. The support will enable the rehabilitation of a 320 megawatt (MW) turbine, that will help improve the overall efficiency and output at the power station. Al Mussaib power station, […]
By John Lee. The Financial Times has reported that the recently-agreed electricity deals with Siemens and General Electric (GE) are not certain to be approved. It quotes Minister for Electricity Luay Al-Khatteeb (pictured) as saying: “I don’t have financial allocations or the processes available at hand, it doesn’t allow me to cherry-pick the right consultancies […]
