Kurdistan
New Electricity Plant Opportunity in Basra
December 29th, 2011 |
Basra Investment Commission has announced a new investment opportunity for the establishment of power plant in the Hartha area.
The new plant will have a capacity of 100 MegaWatts.
Companies interested in this opportunity should contact Basra Investment Commission for more details: info@investbasrah.com
(Source: Basra Investment Commmission)
Articol din 
Iraq to Import 3m Tons of Wheat in 2012
December 29th, 2011 |
Bloomberg reports that Iraq plans to import 3 million metric tons of wheat in 2012, with tenders starting in January.
Hassan Ibrahim, director general of the country’s grain board, said in an interview that the grain board wants $3 billion to spend on grain imports next year, up 10 percent on the 2011 figure.
Iraq uses 4.5 million tons of wheat a year and 1.25 million tons of rice, mostly imported.
The rice harvest has started for this year, with production forecast at 250,000 tons compared with 150,000 tons last year; Iraq’s wheat production for 2010-11 was 1.73 million tons, according to the grain board.
The last wheat purchase was for 350,000 tons about 45 days ago. The government buys rice from local producers at $625 a ton, according to the grain board.
(Source: Bloomberg)
Iraq Buys 400,000 Tons of Wheat
December 29th, 2011 |
Bloomberg reports that Iraq bought 400,000 metric tons of wheat from Russia, Australia and Canada.
The amounts were:
- 150,000 tons from Canada;
- 150,000 tons from Russia; and,
- 100,000 tons from Australia,
Hassan Ismail Ibrahim, director general of the Grain Board, told Bloomberg by telephone. The deadline for the tender expired on 4th December.
Iraq plans to import 3 million tons of wheat next year, with tenders starting in January.
Iraq uses 4.5 million tons of wheat a year and the country’s wheat production for 2010-11 was 1.73 million tons.
(Source: Bloomberg)
Olive Processing Factory in Kurdistan
December 29th, 2011 |
AKnews reports that an Italian company is planning to set up an olive processing factory in the region.
The KRG’s Agriculture Minister, Jamil Suleiman, told the agency that the Ministry allocated 600 acres of land for growing olives, following a request from the company to facilitate the project.
In the second phase, the Ministry will seek the help of the foreign companies to set up an olive processing factory in Erbil.
(Source: AKnews)
Iraq Approves $100bn Budget for 2012
December 29th, 2011 |
Iraq’s Cabinet has approved a federal spending plan of almost $100 billion for 2012.
The budget is based on an oil price of $85 a barrel and is smaller than the $112 billion spending plan discussed by the Cabinet in September, which was based on an oil price of $90 a barrel.
The deficit will be about 16 trillion dinars ($14 billion).
Revenue projections are based on exports of 2.6 million barrels of oil a day, including 175,000 barrels from the northern Kurdish region.
Iraq’s 2011 budget was $82.6 billion, based on an average oil price of $76.50 per barrel and 2.2 million bpd in crude exports.
Iraq also has $4.5 billion in International Monetary Fund loans available should it need additional funds, government spokesman Ali al-Dabbagh (pictured) said.
(Sources: Bloomberg, Reuters)
ProSep Awarded $6.5m Contracts in Iraq
December 29th, 2011 |
ProSep Inc. (TSX: PRP) has announced that it was awarded three contracts with a new customer operating in Iraq, for the design and supply of a produced water package and water deaeration and fuel gas treatment systems.
Together, these contracts represent a value of $6.5 million. The equipment provided will be installed at the same early production facility located onshore.
“These contracts awarded by a new customer operating in Iraq bring our year-to-date total orders signed to $46 million, almost twice last year’s orders,” said Jacques L. Drouin, President and CEO.
“By investing in expanding our business development and process engineering teams, we’ve broadened our market reach and depth of offering, and expect to continue capturing market share.”
The produced water treatment package and water deaeration and fuel gas treatment systems will be designed as skid-mounted pre-assembled units for ease of field installation. Delivery of these systems is expected to occur by the third quarter of 2012
China’s CMEC Wins $1.2bn Power Project
December 29th, 2011 |
China Machinery Engineering Corp (CMEC) signed a $1.19 billion contract to build a 1,260-megawatt power station in Iraq, according to Gulf News.
The Beijing-based company will install the natural-gas-fired plant in the Salahuddin governorate north of the Iraqi capital within 45 months, Mussab Serri, an Electricity Ministry spokesman, said in an interview during the signing ceremony in Baghdad.
(Source: Gulf News)
UMW in $30m Deal at Garraf Oilfield
December 29th, 2011 |
Malaysia’s Synergistic Generation Sdn Bhd (SGSB), which is 60 percent owned by UMW Holdings Bhd, has entered into a $30 million contract with Petronas Carigali Iraq Holding BV (PCIHBV).
The contract is for the procurement of materials and equipment and installation and commissioning of all equipment and facilities by SGSB for the setting up of the Garraf Power Plant Phase I at the Garraf oilfield.
(Source: Bernama)
Iraq Seeks New Supplies For Growing Power Needs
December 29th, 2011 |
The Iraqi State Oil Marketing Organization has launched a tender to buy 3,400 tons of gasoil per day for 12 months to power electricity generators.
In July 2011, Iraq signed a one-year deal with Iran to receive approximately 1,300 tons per day of gasoil to help power the growing needs of a country already short on fuel.
Over the past eight years, the finance ministry has tried to alleviate the problem with $27bn of disbursements. Power supply has roughly doubled since 2006 from 4,000 MW to between 7,000 MW and 8,000 MW, but demand has also grown due to Iraq’s strengthening prospects, from around 8,000 MW to 14,000 MW.
When there are no power failures, Iraqis gets electricity for roughly two-thirds of the day, on average. Mortality in Iraq is still high during the hot summers due to power shortages and failures.
(Sources: Reuters; AKNews)
Romanian Housing Project in Basra
December 29th, 2011 |
A Romanian company has received initial approvals to implement a residential project in Basra, according to an official from the Basra Investment Commission (BIC).
“The BIC granted its initial approval to a Romanian company to carry out a residential project, which will include 6200 units in al-Kazieza region, northern Basra,” the source told Aswat al-Iraq news agency.
“The project will be implemented in four phases; each phase will include 1600 units,” he added.
“The project will receive the final and official agreements soon,” the source said.
(Source: Aswat al-Iraq)