Construction, plans and project news

[elusive]

Investment for tourist areas in 3 provinces
October 21, 2010 - 02:24:54
BAGHDAD / Aswat al-Iraq: The Iraqi Tourist Commission has defined three investment positions in Baghdad, Basra, and Anbar Provinces to witness the development of their tourist positions, according to the Commission’s Chairman on Thursday.
“The Tourist Commission has laid out a tourist plan for three positions, in Baghdad Tourist Island, the Wedding Island and Al-Jadiriya Tourist Complex along with the rehabilitation of of Canal Hotel and the Baghdad Hotels Institute,” Hamoud al-Ya’cubi told Aswat al-Iraq News Agency.
In southern Iraq’s Basa Province, the tourist plan covered Safwan town, the Sindbad Tourist Island and al-Mirbad Hotel, he said. He added that western Iraq’s Anbar Province’s Habbaniya Tourist City shall witness the rehabilitation of 500 of its tourist homes.
Ya’cubi also said that his Commission had demanded different Iraqi provinces to allocate pieces of land for investment in tourist projects, adding that Iraq would participate in the International Tourist Market, scheduled to be held in London on November 8th, with the participation of 5,000 companies from 150 states.
He had stated last Wednesday that the Tourist Commission had decided to build 12 five-star hotels in the holy city of Najaf, on occasion of its selection as “Capital of the Islamic Culture,” for the year 2012.

[BigDreamer]

12 five stars hotels by 2012 is VERY optimistic! they better already have started some of these hotels

[elusive]

Originally Posted by BigDreamer

12 five stars hotels by 2012 is VERY optimistic! they better already have started some of these hotels

i think they meant 2, 12 is ridiculous! only a place like Dubai would pull it off

[baghdad_sara]

Originally Posted by elusive

i think they meant 2, 12 is ridiculous! only a place like Dubai would pull it off

Even they would struggle!

[elusive]

Baghdad Fair asserts Iraq safe for investments – spokesman

November 1, 2010 - 09:36:14

BAGHDAD / Aswat al-Iraq: Opening the Baghdad International Fair sends an important message to all investors asserts that Iraq is an important country and has promising investment opportunities for international companies, spokesman of the Iraqi government said on Monday.

“The fair sends a clear message for all investors that Iraq is the coming investment country and has investment opportunities for all countries and for the Iraqi private sector, which has the priority,” Ali al-Dabbagh told Aswat al-Iraq news agency.

“Iraq has succeeded in attracting several companies and we expect that next year will witness the participation of more companies to contribute in reconstructing Iraq,” he added.

SH (P)

[elusive]

Iraq signs 5 agreements with France to develop its infrastructure

November 1, 2010 - 02:47:05

BAGHDAD / Aswat al-Iraq: Iraq’s Oil Ministry has announced on Monday the conclusion of five agreements with France to develop its infrastructure in the fields of oil, agriculture, investment, trade, insurance and electricity.

Oil Minister, Hussein al-Shahrestani, stated after the signing of the agreements that they “aim at boosting trade and exchange and cooperation in the fields of energy and industry, as well as the activation of trade between the two sides.”

“The conclusion of such agreements will positively reflect on the current situation and the future of our country, in such a way that achieves bilateral benefit for both countries,” he said.

An Oil Ministry statement said in a statement, copy of which was received by Aswat al Iraq News Agency, that “a joint high Iraqi-French Committee, led by Oil Minister, Hussein al-Shahristani, had concluded five agreements related to the fields of energy, agriculture, industry, investment and services.”Iraq’s Oil Minister Shahrestani, Trade Minister Safuddin al-Safi, Agriculture Ministe Akram Abdul-Hamid, as well as Finance Minister Bayan Jabur Solagh, have signed the agreements with the French Trade Minister and Chairwoman of the High Joint Commmitte for the French side, An Mary Edrack, the agreements planned in the Joint High Committee’s first meeting.”

The French Trade Minister, authorized to sign the agreements with Iraq, on her part said: “the signing of the agreements has registered an unprecedented occasion in the history of European countries, as France is considered the first European country that signs cooperation agreements with Iraq in different fields.”

“We are working to develop relations with Iraq, especially in the economic and trade fields..And, in our current visit, we have presented an offer to the Iraqi Ministry of Electricity for cooperation in electrical stations field, as well as oil cooperation in the field of building refineries, along with trade cooperation,” she said.

The French Minister pointed out that her country “has decided to open a large pavilion in Baghdad International Fair, comprising 40 French companies, saying: “Our participation in the Fair this year differs from previous years, because we have full wish for joint cooperation.”

Meanwhile, the Spokesman for the Iraqi Oil Mininstry, Assim Jehad, said the above meeting “is considered the second of irts type, as the first meeting was held in Paris last year, that put the main lines for cooperation between the two countries,” pointing out that France “has played a great role on the international level, due to the high and special goodwill of its companies.”

[wasta]

American company to set up residential compound in Basra

November 4, 2010 - 02:10:34

BASRA / Aswat al-Iraq: The cornerstone was laid to establish a residential compound in Basra, chairman of the Basra Investment Commission said on Thursday.

“The project, which will be implemented by an American company, includes the establishment of 3,000 apartments with all facilities,” Haidar Ali Fadel told Aswat al-Iraq news agency.

“The project will cost around $220 million,” he added, noting that the compound will be established near the sports city in western Basra.

Basra is 590 km south of Baghdad.

[wasta]

American company to set up residential compound in Basra

November 4, 2010 - 02:10:34

BASRA / Aswat al-Iraq: The cornerstone was laid to establish a residential compound in Basra, chairman of the Basra Investment Commission said on Thursday.

“The project, which will be implemented by an American company, includes the establishment of 3,000 apartments with all facilities,” Haidar Ali Fadel told Aswat al-Iraq news agency.

“The project will cost around $220 million,” he added, noting that the compound will be established near the sports city in western Basra.

Basra is 590 km south of Baghdad.

[baghdad_sara]

Why do i get the feeling that when a American company is involved, the plan actually goes through lol.. well i hope so anyway.

[BigDreamer]

Iraq in Deal With South Korean Group for 500,000 Homes

BAGHDAD (Reuters) - Iraq's National Investment Commission said on Sunday it had signed a memorandum of understanding with a South Korean group to build 500,000 housing units all over Iraq.

The deal could have a possible total value of $25 billion, according to previous information from the commission stating that each housing unit was expected to cost $50,000.

The group includes Hyundai, SK and POSCO <005490.KS>, the media office of the National Investment Commission said.

"The head of the Investment Commission, Sami al-Araji, has signed in Seoul an MOU with the globally known South Korean Trac organization to build 500,000 housing units all over Iraq," a statement said.

The final deal is expected to be signed in January 2011, Dhiyaa al-Khayoon, a deputy minister of finance, said.

Construction in Iraq has been hampered by red tape and security concerns since the 2003 U.S.-led invasion.

The government hopes a sharp fall in violence in the past two years from the height of sectarian warfare, and a new investment law allowing foreigners to own land for housing projects, will entice foreign investors.

Iraq faces an acute shortage of houses after years of war and sanctions and needs between 2-3 million new homes for its growing population, officials have said.

[elusive]

very ambitious!

[BigDreamer]

yes indeed.. They really need to release more details..

500,000 units is massive even for the largest countries..

They didn't say how long this project will take, if it is done in phases over a long period , then it would be feasible.

[elusive]

i agree...its probably a 25+ year project...

[sheytanElKebir]

Originally Posted by baghdad_sara

Why do i get the feeling that when a American company is involved, the plan actually goes through lol.. well i hope so anyway.

its not an american company (in the terms you think of it, like foster wheeler etc..). Its a group of iraqis with a PO BOX in the US.

[sheytanElKebir]

Originally Posted by BigDreamer

Iraq in Deal With South Korean Group for 500,000 Homes

BAGHDAD (Reuters) - Iraq's National Investment Commission said on Sunday it had signed a memorandum of understanding with a South Korean group to build 500,000 housing units all over Iraq.

The deal could have a possible total value of $25 billion, according to previous information from the commission stating that each housing unit was expected to cost $50,000.

The group includes Hyundai, SK and POSCO <005490.KS>, the media office of the National Investment Commission said.

"The head of the Investment Commission, Sami al-Araji, has signed in Seoul an MOU with the globally known South Korean Trac organization to build 500,000 housing units all over Iraq," a statement said.

The final deal is expected to be signed in January 2011, Dhiyaa al-Khayoon, a deputy minister of finance, said.

Construction in Iraq has been hampered by red tape and security concerns since the 2003 U.S.-led invasion.

The government hopes a sharp fall in violence in the past two years from the height of sectarian warfare, and a new investment law allowing foreigners to own land for housing projects, will entice foreign investors.

Iraq faces an acute shortage of houses after years of war and sanctions and needs between 2-3 million new homes for its growing population, officials have said.

Seoul says Iraqi deal involves only one developer
Mon Nov 8, 2010 7:46am GMT Print | Single Page [-] Text [+]
SEOUL Nov 8 (Reuters) - The South Korean company involved in a housing development deal with Iraq is not a consortium including POSCO (005490.KS: Quote) and other companies as one Iraqi agency said, the Seoul government said on Monday.

It said in a statement Hyundai Engineering and Construction (000720.KS: Quote), POSCO or SK Construction had not decided whether to join a consortium that TRAC Development, that signed the deal with Iraq's National Investment Commission, wants to set up.

The deal could have a possible total value of $25 billion, according to previous information from the commission stating that each housing unit was expected to cost $50,000.

The statement from Seoul's land ministry came in response to a statement by the media office of Iraq's National Investment Commission that said on Sunday the three other South Korean companies were part of the consortium. [ID:nKAM746398]

The ministry only confirmed the head of the Investment Commission, Sami al-Araji, has met with officials from the three South Korean companies during his visit to Seoul last month.


PS. anyone managed to find a website for this TRAC development company?

[elusive]

Missan investment commission considers $60m hotel
November 7, 2010 - 07:27:16 MISSAN / Aswat al-Iraq:

The Missan Investment Commission on Sunday discussed with a Turkish firm the possibility of building a tourist hotel in al-Amara city at a proposed cost of $60 million (roughly 70.8 billion Iraqi dinars), according to the commission chairman. “The 16-floor hotel, to stand over an area of 18 donums in Amara, will encompass offices for businessmen, a movie theater, a car park and a commercial office,” Ra’id Sa’ie told Aswat al-Iraq news agency. One Iraqi donum equals 2500 square meters. The Missan Investment Commission was set up by virtue of law 13 of the year 2006 in a bid to encourage investments in the province. Amara, the capital city of Missan, lies 390 km south of Baghdad.[/IMG]

[elusive]

U.S. investment group to implement tourist project in Basra

November 10, 2010 - 03:35:13

BASRA / Aswat al-Iraq: The U.S. group for international investments held talks with local officials in Basra on establishing a tourist project in Sindbad Island in Basra, a media source said on Wednesday.

“A delegation from the U.S. group for international investments discussed with Basra Governor Shaltagh Abboud and Deputy Chairman of Basra Council, Ahmad al-Sulieti, implementing an investment project in the tourist Sindbad Island in Basra,” the source told Aswat al-Iraq news agency.

“The project includes the establishment of several malls, hotels and entertainment places,” he added, noting that the governor expressed readiness to present all facilities to implement such projects.

Basra is 590 km south of Baghdad.

SH (P)/SR

[elusive]

Plan to rehabilitate Baghdad Fair

November 11, 2010 - 02:23:56

BAGHDAD / Aswat al-Iraq: The trade ministry has prepared a plan to rehabilitate the Baghdad International Fair at a cost of 4 billion dinars, according to a media director.

“The ministry has mapped our a plan to rehabilitate the Baghdad International Fair in preparations for the coming 38th season,” Mohammad Hanou told Aswat al-Iraq news agency.

“The ministry organized tenders with Iraqi contractors and we hope to start implementing the project after the Greater Bairam (Eiduladha),” he added.

The 37th fair was opened on Monday (Nov. 1) by Prime Minister Nouri al-Maliki and was attended by more than 1200 companies from 80 countries.

SH (P)/SR

[makaay31]

Baghdad plans makeover for deadly airport road(AFP) – 1 day ago

BAGHDAD — Long known as the globe's most dangerous highway, Baghdad authorities are now aiming to turn the Iraqi capital's airport road into "the most beautiful street in the world".

Known within the US military as "Route Irish" and grimly dubbed "RPG (rocket propelled grenade) alley", those using the road were subject to daily attacks from insurgents during the peak of Iraq's sectarian war in 2006 and 2007.

The pothole-littered highway was lined on both sides with blast walls, with burning cars a frequent sight, as Sunni Arab fighters who formed the bedrock of an anti-US insurgency after the 2003 invasion would routinely fire rockets and missiles onto its users.

But in a statement on Sunday, the capital's mayor announced he wanted to beautify it by the time Baghdad hosts an upcoming Arab League summit in March next year.

"More than 23 international companies from seven countries... will start at the end of this month to develop a large number of streets and places in Baghdad," Saber al-Essawi said.

"Included in those is Baghdad International Airport street, which extends from Baghdad airport to the Green Zone, at a cost of 200 million dollars, to transform it into the most beautiful street in the world."

There are now few security incidents along the heavily protected highway, whose three lanes have routinely flouted speed limits of 60, 80 and 100 kilometres per hour (about 40, 50 and 60 miles per hour).

The redevelopment plan outlined by Essawi encompasses 50 streets and sites in Baghdad with an overall cost of 500 billion Iraqi dinars (425 million dollars).

It is part of plans to spruce up Baghdad ahead of the summit -- the country announced in August it would spend 300 million dollars to upgrade six major hotels in the capital, with renovations now already underway.

Iraq has not held a regular Arab summit since November 1978, although it did host an extraordinary session in Baghdad in May 1990.

[elusive]

good move! baghdad roads need more funding