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An economic adviser in the Iraqi government said on Friday that, of all countries having companies operating in Iraq, Turkey is the best represented, followed by France. Salam al-Quraishi told AKnews that there are now 270 Turkish companies operating throughout Iraq, mostly specialized in construction of residential complexes and providing electrical power. "French companies are […]
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 […]
Committees don't just sit around in Iraq. On 19th October the Iraqi government created a committee to increase business and economic relations with Turkey. Now, a member of the committee has said that the two countries are going to increase commercial exchange up to $12bn in 2011, reports AKNews. This is a more than three-fold increase on previous […]
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, today underscored its commitment to supporting investment into Iraq with an announcement of its first contract of guarantee for the country. The guarantee of $5 million backs a Turkish investment into a Baghdad plant that manufactures polyethylene terephthalate (PET) […]
A Turkish company has expressed readiness to rehabilitate a poultry project in Diwaniya at a cost of $100 million [117 billion Iraqi dinars]. This came during a meeting the chairman of the agriculture and water resources committee in Diwaniya, Baqer Ali al-Shaalan, held on Wednesday (Oct. 6) with a delegation of a Turkish company. “Talks […]
The General Manager of Turkey’s Genel Enerji, Orhan Duran, said on Thursday that plans to set up a refinery in northern Iraq, shelved due to the global financial crisis, were back on the agenda and planned total investment was $500 million. He also told Reuters in an interview the company was continuing work on building […]
On the last day of the Erbil international construction trade fair, a joint venture was signed between a Turkish and a UAE company to invest in the housing and construction sector in Iraq. Project Iraq 2010, which was the 32nd international fair opened in Erbil since 2005 and the 6th this year, finished on Thursday. […]
A U.S.-Turkish delegation met the Chairman of the Baghdad Investment Commission on Wednesday to discuss the establishment of two factories for gypsum and Pepsi, according to a statement of the BIC. “The BIC Chairman, Shaker al-Zamel [Shaker A. Shibeeb], received a delegation from a U.S.-Turkish company to set up two factories to produce gypsum and […]
Iraq’s crude oil exports through Turkey “suddenly” dropped by about 20 percent due to a technical fault on the Iraqi side of the border, according to an official for the state-run North Oil Co, as reported by Bloomberg. “The flow suddenly dropped from the usual level of 600,000 barrels a day to between 400,000 and […]
The Iraqi Oil Minister renewed a contract with Turkey to transport crude oil through the Turkish port of Ceyhan for 15 years, at volumes of more than one million barrels per day (bpd). The deal is expected to strengthen economic relations between Baghdad and Ankara. AKnews reports that Oil Minister Hussain al-Shahristani said in Baghdad […]
Turkey's Energy and Natural Resources Minister, Taner Yıldız, has said Turkey will renew the agreement with Iraq for the Kirkuk-Yumurtalık crude oil pipeline on Sept. 19. The flow of oil through the pipeline was severely affected by the seven-year US occupation of Iraq. The very limited flow has continued to decrease over the last few […]
