French company is to build a bridge in Baghdad and bidding for more projects

(08.05.2009)

The French (Matier) Company specialized in the construction of bridges, has concluded a contract worth 6.5 million dollars with the Iraqi government to build a new bridge in Baghdad.
The Company's Chief Executive, Phillip Matier, told a news briefing on Thursday that the company is going to build a bridge in the town of Nahrawan, south of Baghdad, indicating that the construction work has started since three months, and will be finished in next October.
This came on the sidelines of the gathering about investment in Iraq which was organized by the Iraqi-US Chamber of Commerce and Industry in the Jordanian capital Amman.
The company noted that it had made two bids to build two bridges in southern Iraq, in Najaf and Karbala, with cost ranging from 7 to 8 million dollars each, and it is expected to be settled within next weeks.
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Kurdistan’s oil exports will be supervised by the central government

(12.05.2009)


There are Reports about the approval of the Iraqi government on Kurdistan region’s plans to start exporting oil next month, but under the supervision of the Iraqi Oil Ministry.

The Associated Press agency quoted to Assem Jihad, the spokesman for the Iraqi Oil Ministry as saying that the export process will be through the Iraqi Oil Marketing (Somo).

Jihad explained that the oil will be exported via the pipeline that passes through Turkey to the Turkish port of Ceyhan. He stressed that any produced oil in any part of Iraq should be handed over to the Ministry of Oil and marketing by SOMO.

The minister of Natural Resources in Iraq's Kurdistan Regional Government Ashti Hawrami, had issued a statement in which he said that the exports of crude oil from the Tauki field will begin in the first of next month, a rate of 60 thousand barrels per day as a first step.

The Government of Iraqi Kurdistan stated that oil will be exported according to the laws the Iraqi federal constitution.

According to the government of Baghdad, that the Kurds do not have the right to sign contracts without obtaining the approval of the central authority, but the Kurds refuse to do so.

This difference between the two sides was one of the reasons for the Iraqi parliament’s refusal to ratify the Law of Iraqi oil wealth.

This proposed law regulates how the revenues of Iraqi oil and natural gas will be distributed.

The Kurdistan Regional Government of Iraq has signed before a year ago, many contracts for investing oil and gas with international oil companies, and made amendments to old contracts.

The aim of these contracts is to raise oil production of the province fields from few thousands to a million barrels a day within five years.

The companies that signed new contracts were the Indian "Rleins" company, and the Australian O.M.V company as well as the Hungarian M.O.L.

And all companies exploring for oil will get 15 percent of profits from the new discovered fields.

Iraqi Oil

It is noteworthy that the oil revenues constitute 90% of the income of the Iraqi government, which seeks to raise the level of production rates prior to the invasion in 2003.

The Iraqi oil industry suffered from the weakness of foreign investment and the need for the development of oil fields and installations, which were a target of attacks by insurgents.

Because of the weak production, Iraqis have not benefited much from the recorded levels of oil prices last year, which sometimes amounted to 147 dollars per barrel before declining prices reached a rate of 60%.

Iraq is a member of the Organization of Petroleum Exporting Countries (OPEC) and has the third largest oil reserves in the world at about 115 billion barrels, at least.

Iraq has suffered from the consequences of the global financial crisis and the parliament has passed a budget of $ 58.6 billion last month, after a reduction in the original draft.
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Irak importiert 95% der Lebensmittel aus dem Ausland

(07.05.09)

Der Minister für Planung, Ali Baban sagte, dass der Irak fünfundneunzig Prozent der Lebensmittel aus dem Ausland importiert. Diese Situation stellt eine Bedrohung für die nationale Souveränität. Er betonte auch, dass die Befreiung des Landes aus der vollständigen Abhängigkeit von Öl-Preise eine essentielle Sache für die irakischen Wirtschaft.
Herr Baban erklärt das während der Eröffnung der ersten internationalen wissenschaftlichen Konferenz der School of Management and Economics an der Universität von Kerbela.

(Kerbela ist die heilige Stadt der Schiiten. Sie liegt etwa 95 Km südlich von Bagdad)

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$65b+ postpaid plan to rebuild infrastructure – spokesman

Aswat Al Iraq - [4/26/2009]


The cabinet approved a draft law on a postpaid plan of $65.765 billion to rebuild Iraq’s infrastructure and service sectors, according to the Iraqi government’s official spokesman Ali al-Dabbagh on Friday.

“A cabinet meeting today (April 24) was concluded in an agreement to propose a draft law allowing the government to sign contracts to carry out infrastructure projects in the domains of housing, water, sewage, education, transport, communications and agriculture,” said Dabbagh in a statement received by Aswat al-Iraq news agency.

He said the move comes upon the instructions of the prime minister to benefit from offers by countries and corporations to set up major ventures for the Iraqi government within the framework of a postpaid system plan.

“According to the agreement, $25 billion will be allocated for housing projects, $5.539 billion for water and sewage, $3.725 billion for health, $1.745 billion for education. $2 billion for higher education and scientific research, $9.34 billion for transport, $0.595 billion for communications and $17.812 billion for agricultural projects,” added Dabbagh.

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O.N.G. is to conclude oil contract with Iraq

[5/7/2009]

According to sources in the Indian unit of O.N.G. for oil and gas, that the company is about to complete the renegotiation of oil deal in Iraq, which has been concluded in the era of the late Saddam Hussein.
Iraq needs investment of tens of billions of dollars to modernize the aging infrastructure and increase oil production.

The source from foreign investment Unit stated that "the deal will be concluded soon, and we had three or four meetings and we intend to hold more." The deal related to exploration in the region eight of Iraq's western desert. The agreement was signed in 2000.

The source declined to give more details about the investments in the eighth district, which industry sources estimated the development costs of about 1.5 billion dollars.

Another source pointed out that a team of Iraqi officials visited India in April to discuss the terms of the agreement.

"The discussions with them were very positive in relation to the negotiation of new terms, and immediately upon completion of this we will be ready to sign the contract and start from where we left off."

This will be the second deal to be negotiated after the US-led invasion in 2003.
China and Iraq agreed to modify the terms of service contract worth three billion dollars last August.

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78 oil and gas fields are presented to foreign companies for development

The Oil Ministry announced a list of nine foreign oil companies have obtained approvals for participation in the 'service contracts' to develop 11 oil and gas fields in the country.
The ministry clarified in a statement that these companies can participate in the round of service contracts, which reported in last December 31st, and each will receive an invitation by the Department of Licensing and Contracts in the Oil Ministry.
The Ministry participates in implementing the plans and programs of the State through the development of 78 oil and gas fields, have not been exploited but 15 fields only.
The Oil Ministry had granted on the 31st of June, permissions to 35 international companies to work in the mining sector and developing oil fields, among 120 companies had applied for these contracts.
The Ministry announced 38 foreign candidates, but the approval was granted for the following companies: Rosneft and Tatneft from Russia, Kazakhstan Kasmonicaz, Petrovinam from Vietnam, and Angola's Sonangol, Pakistan Petroleum Company, Oil India, Japan, India and Britain's Cairn Energy.
The fields are Majnon and West Qurna for (phase II) and Saybah (gas field) in the province of Basra, al-Gharraf in the province of Dhi Qar, and Kifl ,West Kifl and Morjan in the mid-Euphrates region and east of Baghdad, and Al-Kayara and Najma in Nineveh, and Badra (border field) in the Wasit, and Red Khashm ,Qamar , Nadoman and Kalabat in Diyala.

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Investors hunt for deals in Iraq reconstruction

Business Intelligence Middle East - [5/1/2009]

Senior Iraqi officials and international business leaders will gather in London today (April 30) to explore possible investment deals as the country slowly emerges from six years of conflict.

Representatives from around 250 companies, from Shell to Rolls Royce and Barclays Capital, will join Iraqi leaders, including Prime Minister Nuri al-Maliki and Oil Minister Hussain al-Shahristani, for a day of talks.

Suicide attacks in the past week have killed more than 100 Iraqis and the political landscape remains rocky, but the head of the Trade Bank of Iraq, Hussein al-Uzri, says trade flows and investment opportunities are increasing.

The bank, set up by the US authorities in July 2003 to finance trade and reconstruction projects, saw 2008 net profit rise 41 per cent to $359 million on operating income of $447 million.

Over the same period, the bank's total assets grew by more than 60 percent to $10 billion, from just $2.8 billion in 2006.

From power and cement plants to agriculture projects and fertiliser production, the bank is helping to finance private sector deals that are slowly building up Iraq's economy.

Oil-related deals -- with Iraq currently producing nearly 2 million barrels of oil a day and sitting on the world's third-largest proven reserves -- are expected to be much greater once contracts are finalised.

'The last six years have not been easy for Iraq... but now everything is being put back in its place,' US-educated Uzri, who returned to Iraq after the overthrow of Saddam Hussein, said as he announced the bank's results yesterday (April 29).

Most investment from region

Uzri, 46, will be a speaker at the Invest Iraq conference sponsored by Britain's Department for International Development.

At the moment, most private investment in Iraq comes from the region -- the Gulf, Turkey and Iran -- or from expatriate Iraqis living in Jordan, Lebanon and Dubai who are looking to gain a business foothold in their homeland.

But there is also steady growth in interest from Britain, France, Germany and the United States, Uzri said, with private equity funds also joining the hunt for investment opportunities.

Fairfax, a London-based fund, is planning to invest up to $200 million in Iraq this year, according to the Financial Times. The Trade Bank of Iraq is looking at setting up its own $250 million investment fund. Fairfax did not respond to calls for comment on Wednesday.

Uzri expects private-sector investment to exceed 'tens of billions of dollars' a year in the next 3-5 years, with power, energy and infrastructure projects the main draws.

Claude Hankes, a banker and adviser to the Trade Bank of Iraq, said the drying up of opportunities in established markets due to the global financial crisis would encourage risk-hungry investors to look beyond Iraq's security and political threats.

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Iraq could be an economic leader in the Middle East

Gulf Times - [5/2/2009]

Last month, I visited Iraq with the biggest UK government-led trade delegation to travel there for over 20 years.
The visit recognised the transformation now taking place in Iraq. One, where’s its people’s focus is increasingly on attracting the international investment and business that can help its economy grow and create jobs in the years ahead.
With UK forces completing their military operations in Iraq later this year, our priority now is to continue helping the Iraqi government, at provincial and national levels, to realise those ambitions and, in turn, deliver greater security, better public services and increased prosperity for its people.
As part of this work, I recently co-hosted ‘Invest Iraq’ - a major conference to promote trade between our two countries. Accompanied by senior Iraqi ministers and officials, both Prime Minister Nouri al-Maliki and Deputy Prime-Minister Dr Salih spoke there about the importance of our trade relationship to their country and the opportunities for British businesses across all sectors.
During my visit to Iraq, I saw for myself how British business knowledge and skills are enabling Iraq to develop its economy.
Working with the Iraqi government, British officials and companies are helping to reconstruct vital infrastructure, deliver essential services, boost skills and capacity and support humanitarian efforts. Work led by the Department for International Development has already resulted in potential investment proposals from business worth up to $10bn.
The Iraqi people I met on my visit spoke with cautious optimism about the future, but their belief in the potential of their country to succeed was clear.
They recognise Iraq could be an economic leader in the Middle East. Its location puts it at the centre of a regional market of more than 200mn people. It has the third largest reserves of oil in the world, fertile agricultural land and a relatively skilled and educated workforce.
With oil revenues in 2008 totalling over $60bn, Iraq also has the possible resources to fund its own development. But crucial to realising its ambitions are the knowledge and expertise Iraq can draw on to manage and spend this budget effectively and the strength of the trade relationships that can bring forward new opportunities.
Faced with these challenges, the Iraqi people will look to companies they trust.
They’re interested in working with British companies to complete the big infrastructure projects and create the new enterprises critical to generating growth in the future.
British businesses are well known in Iraq. British expertise is well-regarded. Representatives from over 100 top UK and international companies attended yesterday’s conference, keen to learn more and discuss trade and investment in Iraq.
Their skills ranged from construction, transport and power to healthcare, security and financial services. Their knowledge and experience is a valuable resource to help develop Iraqi capability.
Challenges, of course, still remain. But the security situation in Iraq has improved and a more stable business environment has already attracted some leading British firms.
In February this year, Foster Wheeler Energy was awarded a contract by Southern Oil Company to provide basic engineering support for its new offshore oil export facilities.
Maritime & Underwater Security Consultants have secured an estimated $200mn contract to survey the seabed and provide pipeline services between refineries and ports and offshore loading points for oil tankers in Basra.
UK technology is also helping Iraq’s biggest bank computerise its operations. B-Plan Information Systems is now rolling out a new banking software system at 150 branches of the Rafidain Bank. This new IT will give 4.5mn account holders in Iraq access to modern bank accounts for the first time.
Alongside the Iraqi authorities, we’re committed to building on these and other opportunities. Yesterday, we signed a new Memorandum of Understanding on Economic Co-operation to establish annual trade and economic talks between the UK and Iraq and set out priorities for engagement.
Our governments are also working together to provide support and expertise to build skills and capacity in Iraq’s energy sector.
While UK Trade & Investment, the government organisation which helps British business grow internationally, is expanding its presence in Iraq with a team ready to offer business help and support on the ground.
Iraq’s future success will be built on the hard work of its people and the knowledge and expertise they can call on to drive growth in the decades ahead. As a committed partner in trade, the UK stands ready to do everything it can to help the Iraqi people fulfill their ambitions for the future.

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Weekly flights from Al Najaf Airport to Arab and European countries

Translated by IRAQdirectory.com - [12/15/2008]

The Chief Executive Officer of the Kuwaiti company (Al Aqeeq), Najah al Balaghi stated that the company is in charge of managing and operating Al-Najaf International Airport and there will weekly flights in the coming weeks.

Al Balaghi explained that the flights would be between al-Najaf and a number of Arab and European capitals, at rate of 14 weekly flights to Kuwait and 10 flights to Dubai, 12 flights to Bahrain with a number of flights to European countries soon.

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Iran is drilling 9 oil wells north of Baghdad

Translated by IRAQdirectory.com - [12/13/2008]

Iran plans to participate in Iraqi oil projects of drilling 9 wells in the north of the capital Baghdad.
The executive director of the Iranian Oil Industry Investment Company, Ahmad Naseri said in a statement published on Friday that his country will participate with an Iraqi company in this project, total investments funds of 32.25 million U.S. dollars.
He said that the project to be implemented within 18 months, expressing his hope that it will pave the way for a longer existence of oil industry in Iraq and other neighboring countries.

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Iran is participating in Iraqi oil project with funds 32.25$ million dollars

Translated by IRAQdirectory.com - [12/13/2008]

Iran intends to participate in Iraqi oil projects of oil drilling for nine wells in the north of the Iraqi capital Baghdad, a total funding of 32.25 million dollars. The news agency "Persian" quoted to the chief executive officer of the Iranian oil industry investments Ahmed Nasseri said his country will participate with an Iraqi company in this project, with total investments of 25 million Uruma equivalents of 32.25 million U.S. dollars.
He added that the project is decided to be implemented within 18 months, expressing hope that this project will pave the way for the oil industry in Iraq and other neighboring countries.
It is to be mentioned that Iraqi Oil Minister Hussein Shahristani called on international oil companies participating in the development of the Iraqi oil sector to attract investments from international oil companies.
And for possession of Iraq's western neighbor, the Iran's huge oil reserves in the northern region, Iran is a member of the Organization of Petroleum Exporting Countries "OPEC", and among the top three countries in the world in terms of proven reserves of oil and natural gas.
As Iran is the second largest crude oil exporter in OPEC after Saudi Arabia, the fourth largest exporter in the world after Saudi Arabia, Russia and Norway.

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Iraqi-French companies won a contract to implement the largest water project in Baghdad

Translated by IRAQdirectory.com - [12/13/2008]
The municipality of Baghdad concluded on Sunday a contract with three companies, French and Iraqi companies for the implementation of largest water project in Baghdad.

The Secretary of Baghdad Sabir Al-Issawi, told reporters after signing the contract of Al-Rusafa water project with a coalition of three companies (Iraqi French) which will implement the first phase of the project, they are the French (Dkrmont) and the two Iraqi (Al-Esam and Al-Mabrouk), the completion of the giant water project in Al- Rusafa, which is the largest in Iraq and the region, will eliminate the water scarcity in the capital forever.

The Secretary of Baghdad said that the designed capacity of the project, is about 2250 thousand cubic meters a day, the first phase will be implemented by those companies with capacity of 900 thousand cubic meters per day at 1.136 billion dinars and the duration of delivery would not exceed 28 months. He added «that this project of great importance, as will solve the problem of scarcity in the city of Baghdad and give the ability to municipality of Baghdad to transfer any amount of pure water to any region on both sides of Karkh and Rasafa, through the land reservoirs and carrier lines. The Cabinet had approved the allocation of Rusafa giant water project, to implement the first phase by the mentioned coalition after the recommendation of the municipality of Baghdad.

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The Authority of Babylon announced on many privileges for the investors

Translated by IRAQdirectory.com - [21.10.2008]

The Director of the Investment Authority in Babel Alaa Harba, clarified that: the bureau is receiving continuously a number of related applications for investment in various industrial, residential, agricultural and tourism areas and the body is working hard to welcome investors without the conflicting with Iraqi laws and environmental standards related to investment. Harba stressed on that the aim of the Iraqi investment law is to transfer of modern technology and industrial development and employing the workers in a step to eliminate the unemployment, also to construct a base of developed industrial, agricultural, health and tourism in Iraq and that the law has many privileges to investors, including tax exemption for a period of ten years, and in the case of sharing with Iraqi investor by 50 percent of the project, the Exemption will be up to fifteen years. Harba said: The Iraqi investment law gave to the Investment Authority in the province, the freedom in deciding on investment projects up to 250 million dollars, and if it exceeds more then it must obtain the approval from the Council of Ministers. The director of the Investment Authority said that the investor is allowed to enter engineering machinery equipment, vehicles and free of customs equipment, as well as the facilitation to obtain a land for the project up to 50 years, depending on the type of project, and it is renewable, as well as respecting the investor financial and material property, and reserving his full property from expropriation and nationalization , and the Authority is responsible to obtain the approvals for him from the competent authorities.
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The Central Bank sold 820 million dollars within a week

Translated by IRAQdirectory.com - [19.10.2008]

The volume of aggregate demand to buy the dollar had increased during the sessions of the Central Bank of Iraq this week, for up to 820 million and 906 thousand dollars against 645 million and 262 thousand dollars last week, a decline in the exchange rate at one point in the middle of the week.
And the total cash demand registered 208 million and 955 thousand dollars, while foreign remittances recorded a size of request amounted to 611 million and 951 thousand.

The demand rate has increased to its higher record, with 164 million and 181 thousand dollars, while the third-quarter of the current year had registered $ 150 million in each session.
This week has witnessed a remarkable disparity in the sizes of requests to buy the dollar during the course of the auction, when the opening session on Sunday last week, registered the minimum requests during the one session worth 110 million and 625 thousand dollars, while on Monday's session, the demand reached to its peak of value at 233 million and 890 thousand dollars, Double the quantity.
The exchange rate for the current week dropped of one point between the opening session on Sunday which registered 1179 dinars to the one dollar, while in the closing session on Thursday registered 1178 dinars, also on Tuesday the exchange rate dropped as well, while the last week sessions did not witness any change.
This week sessions for auction did not register any bids to sell the dollar by the contributing banks in the auction.

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Many countries compete on investment in Iraq

Baghdad, Sep. 22,2008

Investment Authority disclosed competition of many developed countries to execute huge projects in the country, it include US, UK, France, UAE, Saudi Arabia and other countries, the Authority Chief, Ahmed Ridha, said.

Iraq received investment's bids of about $ 74 billion during past six months, as the country's budget devoted big allocations to develop Basra's airport, Baghdad international airport and holy city of Najaf, while there's project to build tourism city in Kut, Ridha said.
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The Ministry of Industry ranked top among ministries in actual spending for this year

Translated by IRAQdirectory.com - [07.09.2008]

The Ministry of Industry and Minerals ranked the first among other ministries in the proportions of their expenses for the current year reached 277 billion and 358 million dinars from the allocated amount of 400 billion dinars, up to last June which is 69 percent of their actual expenses. An official source in the governmental investment of the Ministry of Planning and Development Cooperation stated to a press , that The Ministry of Electricity has followed the Ministry of Industry in volume of actual expenditures reached 907 billion and 641 million dinars from the allocated amount of trillion and 560 billion dinars, which is 58 percent, while the Ministry of Oil came in third place in spending a trillion and 254 billion and 442 million dinars from the allocated amount of a trillion and 400 million dinars.

He added that the Ministry of Migration had achieved 40 percent after spending 404 million dinars from the allocated amount of one billion dinars, then followed by the Ministry of Foreign affairs which spent 37 percent of 9 billion and 444 million dinars from the allocated amount of 25 billion dinars and then comes the Ministry of Municipalities which spent 33 percent 169 billion and 377 million dinars from the allocated amount of 500 billion dinars. The Source explained that the Ministry of Human Rights spent 657 million dinars, regarding to the allocated amount of two billion dinars ,thereby achieving 32.9 percent of the actual expenses , also the Ministry of Water Resources expenditure 32.2 percent of the actual expenses , spent 145 billion and 297 million dinars from the allocated amount of 450 billion dinars , while the House of Wisdom achieved 28 percent of achievement rate and spent 842 million dinars from the allocated of 3 billion dinars.

The Supreme Judicial Council had spent 6 billion and 959 million dinars from the allocated amount of 25 billion dinars, thus achieving 27 per cent of the actual expenses, while the Ministry of Construction and Housing achieved 20 percent of the actual expenses after spending the 63 billion and 411 million dinars from allocated sum of 309 Billion and 306 million dinars, then the Ministry of Higher Education and Scientific Research achieved 14 percent after spending 28 billion and 733 million dinars from the allocated amount of 200 billion dinars. He continued that the Ministry of Agriculture spent 8 billion and 73 million dinars from the allocation 74 billion and 473 million dinars, thereby achieving 10.8 percent of the expenditure rate , followed by the Ministry of Labour and Social Affairs which spent two billion and 93 million dinars from the allocation of 200 billion dinar , with expenditure rate of 10.2 percent. While The Ministry Of Trade spent two billion and 867 million dinars from the allocation of 28 billion and 500 million dinars with expenditure rate of 10.1 percent and then the Municipality of Baghdad that spent 44 billion 435 million dinars from the allocation of 470 billion dinars with expenditure rate 9.5 percent. The Ministry of Health has achieved 7.6 percent of expenditure rates which has yet to spend 7 billion and 613 million dinars from the allocation of 100 billion dinars.

And the Sunni Cabinet achieved 7.5 percent of spending 894 million dinars from the allocations of 12 billion dinars, while the Ministry of Justice has achieved 7.4 percent of expenditure 884 million dinars from the allocation of 12 billion dinars. The Source added that the Christian Cabinet achieved 5.8 percent from expenditure ratios, spending 491 million dinars from the allocation of 8 billion and 410 million dinars. And the Shiite cabinet has achieved 5.1 percent of spending 507 million dinars from the allocation of 10 billion dinars, while the Ministry of the Environment achieved 2.3 percent of projects expenditure 228 million dinars from the allocations of 10 billion dinars, the Ministry of Transport has achieved 2 percent of expending rate and spent 5 billion and 929 million dinars from the allocations of 300 billion dinars. He explained that the actual expenses of Ministry of Interior were two billion and 305 million dinars from the allocation of 145 billion dinars ,with expenditure rate 1.6 percent, while Ministry of Culture spent 202 million dinars from the allocation of 21 billion and 750 million dinars.
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Solar boilers in Iraqi markets soon
VOI -06.09.2008

The head of the Iraqi Industrial Assembly on Saturday said that Iraqi-made solar boilers will be available in local markets in three months' time to help solve the country's electricity crisis.

"These types of boilers will store the solar energy through plates that will covert sunlight into energy, which can be used to heat water in winter," Abdelhassan al-Shamri told Aswat al-Iraq- Voices of Iraq- (VOI).
Shamri noted that many local industrial projects have started to use new operating programs that meet the real needs of Iraqi citizens and local markets.
The Iraqi Industrial Assembly was established in 2004 by 300 owners of small industrial projects in an attempt to coordinate their efforts and help their businesses flourish.
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Iraqi Finance Minister and Italian ambassador discussed means to speed up Italian loan to Iraq

Translated by IRAQdirectory.com - [9/5/2008]

The Iraqi Finance Minister Baqir Jabr Al-Zubaidi discussed with the Italian ambassador in Baghdad Maryso Melanie and his accompanying delegation, to speed up procedures for the Italian loan to Iraq of four hundred million Euros allocated for the purchase of Italian machinery and agricultural equipment to supply the peasants. Al Zubaidi, during the meeting, explained that the government is keen on opening horizons for fruitful cooperation with Italy in all fields, particularly the rehabilitation of infrastructure and implementation of projects which will contribute significantly to upgrading the reality of agriculture in Iraq. For his part, Italian Ambassador expressed his country's readiness to support the Iraqi government by participating in reconstruction projects and rehabilitation of the Iraqi staff.
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$50,000 cost loans to small, middle industries

Baghdad, Aug 13,

Ministry of Industry and Minerals has called owners of projects registered in industrial development to get use of loans opportunity which businessmen can obtain them now. Director-General of industrial Development, Ministry of Industry and Minerals Abbasss Nassar Allah said that current year and last years industrial development loans have been tax-exempted. He added that all new loans have increased to be among $25,000-50,000 and due to the projects capacity of productive side and their real need after the resuming of its work. Borrowers of industrial projects became capable of get using from new increasing and submitting to obtain contrasts, indicating that pervious loans were not exceeded $ 8,000-19,000
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New airport to be built in Middle Euphrates

Baghdad, Aug. 13, P. 3
Transportation Ministry would build an international airport in Middle Euphrates area

its capacity 6 million travelers annually, senior undersecretary, Bankeen Rikani, said. This airport will serve religious and commercial tourism in this area, as the ministry calls private sector companies to bid and receiving the project requirements, Rikani said.
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Iraq's 2009 budget $ 100 billion

Baghdad, Aug. 13, P. 1
Finance Ministry refers to Parliament at next October estimated budget of the next year that would amount $ 100 billion

if crude oil prices remain at its current level. The oil and gas committee's chairman at the Parliament, Ali Hussein Delli, said that recent Iraq's oil exports range from 1.9 mln b/d to 2 mln b/d, and if there's any surplus in this year budget, it would added to the next year. Economic experts that the huge budget of 2009 would contribute at decreasing unemployment and improve living standards of people, if it spent properly, as they call the Govt. to curb inflation and set prices of esseential goods.
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Putting the cornerstone of Iraqi German hospital in Baghdad

Translated by IRAQdirectory.com - [8/5/2008]


Common characters represented by Iraq and German governments put the cornerstone yesterday of a modern hospital in Karada Asharqia , a cost of $ 150 million dollars at a time when the government agreed to implement 38 projects in Sadr City service.

The spokesman for the( imposition of civil law) Dr Shaykhli announced, explaining that the Iraqi German hospital to be established in the vicinity of the Al Mua'alaq bridge ,with time of completion estimated about two years, and it will be specialist to provide public services for all citizens of Baghdad, specialized in the liver and heart diseases, and both Iraqi and German doctors will work in this hospital ,which has a capacity of 250 beds.

A Shaykhli clarified about the Cabinet approval to set up 38 service projects in various areas Sadr City.
He pointed out that those projects include the establishment of health clinics in a number of sectors of the city and the rehabilitation of a number of hospitals and providing them with modern medical equipment, adding that the Council also decided to build 22 new schools and rehabilitate another 51 schools in the city, as well as supplying all schools with computers and photo copiers , in this regard they allocated ten thousand computers and 400 photo copiers.

The spokesman stated : that the Ministry of Electricity began its processing to supply Al Sadr City with 200 electric generators , in addition to 1580 illuminative pillar of solar flare in all the city streets.

He stressed that Baghdad Secretariat will build 20 parks in Sadr City and a number of children's playgrounds and sports fields, thus contributing to the revitalization of the sport movement inside the city.

Iraq is rehabilitating 225 oil wells within 9 months
Translated by IRAQdirectory.com - [8/3/2008]

An Iraqi official stated yesterday that his country was able to rehabilitate and repair 225 oil wells ,which their production rates ranging between 250- 300 thousand barrels per day in the context of plans to increase crude oil production.

Jabbar Allaibi Director-General of the oil company clarified to Al Bayan Emirates paper :«rehabilitation and repair of 225 oil wells during the past nine months will enhance the expected production from oil fields ranging between 250 and 300 thousand barrels of daily production rates, climb to 2 millions and 300 thousand barrels then the current rates that are about one million and 970 thousand barrels» .

South Oil Company which was founded in the early seventies last century in the city of Basra, owns the investment rights and prospecting in 70% of Iraqi territory and its operations are extending on a large area starts from Basra in southern Iraq to the east of Baghdad , and it discovered more than 70 oil fields in those areas, including 20 fields Partially exploited.

The Iraqi official stated we have a plan «aimed at drilling 10 wells in oil fields of the Dome of Safwan and Arkatah which they lie on the south-west of Basra, the common borders with Kuwait, and the company has completed drilling of two oil wells in Arkatah field which is producing 20 thousand barrels per day and two wells in the dome Safwan, which range between 6-7 thousand barrels a day ».

49 project of roads and bridges in Basrah

Translated by IRAQdirectory.com - [8/3/2008]


A source in Basra Governorate Council, stressed that the Committee for the offers in the provincial council, referred the forty-nine projects in the roads sector and bridges for implementation in various regions of the province, at a cost of thirteen billion, six hundred and thirty two million dinars. Adding that these projects are within the budget allocated for accelerate the development of the reconstruction projects in the province of Basra for the current year.

Germany and Iraq signed an investment agreement
Translated by IRAQdirectory.com - [7/27/2008]

Germany and Iraq signed an agreement for investments aimed at strengthening bilateral trade ties between the biggest economy in Europe and the oil-rich Arab country.
German Economy Minister Michael Glos and Iraqi Industry Minister Fawzi al-Hariri signed on Wednesday the initials of the agreement in Berlin, while German companies announced their plans to invest in Iraq.

Glos said in a statement after his meeting with Iraqi Prime Minister Nuri al-Maliki in Berlin, "German companies can invest and they are supported with guarantees from the federal government ... to provide in the future an important contribution to the reconstruction of Iraq."
The spokeswoman for the Ministry of Economy said that the agreement is the first of its kind to Iraq since the U.S. invasion of the country in 2003.

Earlier Al-Maliki said that the German companies are to play a more active role in Iraq and urging them to visit the country to see the marked improvement in the security situation there.
He said in a press conference, speaking through an interpreter that Iraq is open for any kind of investment from Germany.

Al-Maliki said that companies which invest in the country would receive additional protection in Iraq, where violence ebbed to its lowest levels since early in 2004, as reported by the American army.
Germany was more conservative in the assessment of the security situation in Iraq, but Glos, who visited Baghdad earlier this month said that the companies are now expected to be there.
He said: "No more intermediaries."

A number of German companies announced on Wednesday that they had concluded deals with Iraq. The manufacturing company of trucks Man- and making auto company Daimler signed a memorandum of understanding with Baghdad's government for the supply of goods.

Al-Maliki said that his government is keen to encourage Iraqi exiles to return home.

Iraqi exports increased in 2007 by 40% compared with the previous year
Translated by IRAQdirectory.com - [7/25/2008]

Today was announced in Baghdad about the Iraqi exports increase in 2007 by 40% over the previous year 2006 and the advisory body for reconstruction approved 5 huge projects to implement in a number of governorates of $ 80 million dollars.

The Central Agency for Statistics and Information Technology, in Ministry of Planning and Development Cooperation announced today that Iraq's total exports in 2007 of crude oil and petroleum products and other commodity materials achieved an increase of 40.6% compared with the year 2006.

An official source in the body that Iraqi exports of crude oil rose by (38.2%) during in 2007, while exports registered an increase (7.5%) believing that the improvement in the dinar exchange rate led to a decline in the value of exports by the Iraqi dinar (7%) As in 2006. He added that Arab countries have formed the highest percentage increase of total commodity exports except for Iraqi crude oil and petroleum products which rose to (96.1%), Syria was at the forefront of these states, a rate (31.1%), followed by Jordan (27.9%) and then by Arab Emirates (20.2%) .. While Switzerland was at the forefront of foreign countries by (3.6%) of total commodity exports except for crude oil and petroleum products.

On the other hand, the Commission approved the strategy for Iraqi reconstruction in the Ministry of Planning on five new project cost more than $ 80 million dollars.

The Minister of Planning Authority chairman Ali Ghaleb Baban during a ministerial meeting in Baghdad that was approved on developing of forces project in the southern province of Basra cost six million dollars and the establishment of a hospital of maternity and childbirth in the city of Fallujah in western Anbar governorate cost the country 17 million dollars to the Ministry of Health, and surveillance project in the area of cost two million and 215 thousand dollars.

In addition to the processing of 12 hospitals in the governorate of Babil, south of Baghdad with equipment for health centers and hospitals there cost 55 million and 75 thousand dollars which the U.S. government paid 50 million dollars while the local government is paying the rest, and the project of setting up a hydroelectric power station capacity (30) megawatts for the Ministry of Electricity In the northern province of Dahuk.