By John Lee. Iraq's Ministry of Electricity has signed a contract to construct three power substations in Basra Province. Funded by the World Bank, the project will add 3x90 MVA capacity at 132 kV, enhancing grid reliability, balancing loads, and reducing bottlenecks. According to a statement from the Ministry, the project will be executed by […]
By Charles Kennedy for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Parliament Ends Year With No Kurdistan Oil Deal The Iraqi parliament ended this year's session without finalizing a deal with the semi-autonomous region of Kurdistan for the exports of crude […]
By John Lee. Turkish Transport Minister Abdulkadir Uraloglu (pictured) has reportedly said that the Turkish leg of the Development Road Project, connecting Asia and Europe through Turkey and Iraq, will cost $19.9 billion. Anadolu Agency quotes him as saying that the railway component will amount to $17.9 billion, and involve the construction of 1,028 miles […]
By John Lee. Prime Minister Mohammed S. Al-Sudani met the Turkish Minister of Trade, Mr. Omer Bolat, in Baghdad on Monday. The Minister is visiting Iraq with a delegation of approximately 150 businesspeople from the Turkish Exporters Assembly and the Turkish Contractors Association. The visit includes stops in Baghdad and Basra as part of a […]
By John Lee. Iraq's Minister of Transport has announced that Türkiye has established a four-party council, including Iraq, Hungary, and Bulgaria, to advance the Development Road project's connection with Europe. Razzaq Muhaibis Al-Saadawi told the state-run Iraqi News Agency (INA) that the initial designs for railway are complete, with final designs now underway. The expressway's […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a committee meeting to evaluate the progress of agreements and memoranda of understanding with Türkiye, signed during the Turkish President's visit to Baghdad in April. Key topics included water resource infrastructure projects under the Strategic Framework Agreement, emphasizing cooperation based on fairness and good neighborliness. The […]
By John Lee. Representatives from Iraq, Turkey, the UAE, and Qatar gathered in Basra to discuss the latest developments in the "Development Road" project. The meeting focused on finalizing the economic feasibility study and defining key routes for the project's execution. Led by Iraq, with participation from Turkey, Qatar, and the UAE, this meeting is […]
By John Lee. Iraq's Minister of Electricity, Ziyad Ali Fadel, chaired a strategic meeting with representatives from the Turkish Union of Companies and Contractors to advance cooperation in the electricity sector, following the signing of a Memorandum of Understanding (MoU) during the Turkish president's visit to Iraq. The meeting focused on joint efforts to enhance […]
By John Lee. An opinion piece published by The Washington Institute for Near East Policy argues that the US should consider supporting both the Development Road project and Turkiye's wider plans in Iraq, "since both serve the paramount goal of counterbalancing Iranian influence." Soner Cagaptay writes: "Ankara believes that the lucrative construction contracts for the […]
By John Lee. The Governor of the Central Bank of Iraq (CBI), Ali Mohsen Al-Alaq, met with Turkish Ambassador Anil Bora Inan and representatives of Turkish banks operating in Iraq to discuss a newly implemented financial transfer mechanism. The new system, which operates in euros and is executed through Turkish banks, aims to streamline and […]
By John Lee. The Turkish Ministry of Interior and Iraq's Ministry of Migration and Displacement have signed a memorandum of understanding focusing on migration management and voluntary returns. The agreement, signed by Turkish Interior Minister Ali Yerlikaya and Iraqi Minister Evan Faiq Jabro, aims to facilitate the voluntary return of Iraqi citizens from Turkey and […]
By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has called for formal tripartite meetings with the Government of Iraq and Kurdistan Regional Government (KRG) officials to immediately restore exports through the Iraq-Türkiye Pipeline. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) said: As world leaders […]
