Bloomberg reports that Iraq has agreed a $245 million contract with IIAJ Ltd, of the the United Arab Emirates, to build 1,083 housing units in Diwaniya. The al-Zahra residential compound is to be completed within two years on the southwestern side of Diwaniya city, a spokesman for the Diwaniya Investment Commission told the news agency. The […]
Tag Archives | UAE
The latest UAE Business News – Emirates, investment, services, construction, companies & more – brought to you by Iraq Business News
UAE Energy Company to Invest at Khor al-Zubair
An energy company based in the United Arab Emirates has reportedly signed a contract with Iraq's Free Zones Department to invest in the Khor al-Zubair Free Zone. In a statement received by Aswat al-Iraq, the project will cover an area of 16,000 square meters. It was also announced that an Iraqi company will invest in […]
Taji Power Plant Goes Online
Iraq’s future is a 168 megawatt brighter today as the Ministry of Electricity and the Emirati firm Uruk Engineering & Contracting announced that the Taji Power Plant Project is now online and operational. The Ministry of Electricity had launched a “fast track” program for its power generation projects following the announcement; and the Taji development […]
Drake & Scull "Close to Winning" $300m Iraq Deal
Dubai contractor Drake & Scull is reported to be close to winning a $300 million contract in Iraq. Chief executive Khaldoun Tabari said the contract will be the construction of an oil and gas pipeline in Basra, reports Reuters. “We are very close to finalizing the deal,” he said. Drake specializes in mechanical, electrical and […]
UAE's Construction Tech Wins $47m Deals in Iraq
Construction Tech, part of the UAE-based Tech Group, has won two significant deals in Iraq totaling over $47 million, according to a report from Trade Arabia. The bigger of the contracts is a $45 million deal to revamp the Central Bank of Iraq, while there is also a $2.15 million agreement with Shell to support […]
Tags: Central Bank of Iraq News | CBI Iraq, Construction Tech, Shell, Tech Group, UAE, United Arab Emirates
South Korea’s Hanwah to Sign $7bn Iraq Housing Project
Sami al-Araji, chairman of Iraq’s National Investment Commission (NIC), has told Bloomberg that Iraq will soon sign a $7 billion agreement with South Korea’s Hanwha Engineering & Construction Corporation [Hanwah] to build 100,000 housing units in the country. The commission is also due to sign a contract with the UAE-based Bloom Properties to build 40,000 […]
Tags: Bloom Properties, Hanwha, korea, National Investment Commission, NIC, UAE, United Arab Emirates
Iraq to Import Electricity from UAE
Iraq is to import 250 megawatts of electricity from the United Arab Emirates in a bid to alleviate the country's electricity shortage. Electricity Ministry Spokesperson, Musaab al-Mudarres, said the power will be supplied by UAE's Oilfield Services at a price of 7.5 cents per kilowatt-hour. According to the report from Aknews, the spokesman added that […]
President Barzani Pursues Greater Cooperation with UAE
President Masoud Barzani this week paid an official visit to the United Arab Emirates to strengthen political, economic, cultural and investment ties between the Emirates and the Kurdistan Region. The President had meetings with the Prime Minister and Vice President of the UAE and constitutional monarch of Dubai, Sheikh Mohammed bin Rashed Al-Maktoum, and the […]
Dragon Oil Targets Iraq
Dubai-based Dragon Oil is considering expanding into Iraq. In its management statement on Monday, the company said that it was pre-qualified for Iraq’s fourth oil licensing round, which is currently scheduled to take place at the end of May. “We are looking at partnering opportunities ahead of this bidding round,” the company said in its […]
UAE to Provide Floating Power Plants in Basra
Iraq has signed a contract to buy 250 megawatts of electricity from UAE's Oilfield Services. Under the two-year deal, the company will provide two power plants docked on ships in Basra. The ships are expected to reach the port within a few weeks, and the plants will be connected to the grid by 31st July, […]
Etihad Launches Flights to Basra
Dubai's Etihad Airways will launch flights to Basra from mid-April. “Iraq’s surging economy represents a good opportunity to add even greater depth to our schedule,” said James Hogan, Etihad Airways President and Chief Executive Officer. “Basra is an important industrial and transport hub but currently has only limited access to air services and we are delighted […]
DHL Hosts Event to Discuss UAE Trade Lanes to Iraq
DHL, the world's logistics company, hosted a special 'Partners in Trade' event on the importance of the Iraq and Afghanistan trade lane to customers in the UAE, as part of its continued efforts to facilitate and capitalize on regional trade lane relationships and partnerships. The event, which took place at Dubai's iconic Emirates Towers Hotel, […]