Barakat Industrial Park Of Basra Iraq

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May 9 2011

Mr. Mike Shayan sponcered event  for US Department Of Commerce.

To watch the Video of event Klick : http://vimeo.com/24080364

 

Investors Iraq on Wednesday 15/12/2010 11:06 published:

Basra Investment Commission sign joint memorandum of understanding with Iranian Americans from Los Angels to set up a modern city of Barakat Industrial Park in Basra Iraq.

For detail click:

http://www.investorsiraq.com/showthread.php?151380-Basra-Investment-Commission-sign-joint-memorandum-of-understanding-with-American-JK-to-set-up-a-modern-city

 

Basra Investment Commission held a joint conference with a coalition of U.S. companies, JK and Businessmen Union and the Federation of Industries and Chamber of Commerce in Basra for the purpose of identifying the investment environment were also signed a joint memorandum of understanding that would facilitate the establishment of a project a world-class modern city (Barakat Park).

And the President of the Coalition Fred Afshar told the newspaper Basra electronic "preliminary design of the city industrial trade in Basra (Barakat Park) would import services and manufactured products in America, in addition to providing various types of services to assist in the training and rehabilitation of local employment for the purposes of development planned in the the province. "

He added that "the plans of our projects need local partners qualified from the city of Basra and committed to participate in capital projects and to ensure the protection of economic and material for the investment project" and said "We are looking for an active partner to join forces and be a link to complete our projects and facilitate the coming of all our partners from the U.S. who can be relied upon to support the economy of Basra. "

For his part, chairman of the Basra Investment Engineer Haider Ali Fadel said in an interview to Al-Basra electronic ability of the Authority to facilitate the requirements of the City project Barakat Park and the implementation of the plans, "he said" license in place and we will provide facilities and administrative follow-up not exceeding 45 days to start the project, "revealing support Basra's governor, Dr. Cltag Abboud Mayah and space allocation of land to set up such a modern integrated city.

CNN Reporter In Iraq, Billions Of Dollars Investment In Iraq "The Other Iraq":

What you do not see on TV and but you see on you tube Click here.

 

 

Iraq posted April 6th,2010

Italian Group Will Build $4.6 Billion Port At Fao Close To Basra Iraq:

 

An Italian group will begin construction in a months time on what will become Iraqis largest shipping port, the Iraqi transport minister announced Monday.

The facility at Fao, at the southernmost tip of the country, will be fed by a new rail line linking it to the Turkish border in the north, dramatically improving Iraq's moribund transport infrastructure.Fao, which will be built by an Italian consortium, will be the biggest port in Iraq, Transport Minister Amer Abduljabbar Ismail said in a ceremony at Fao on the Gulf, 535 kilometres (335 miles) south of Baghdad.

This project is part of a larger vision that we call a dry canal which will allow for transport of goods between the north and the south of the world quickly, cheaply and safely. An Italian diplomat, speaking on condition of anonymity, said the port will be among the biggest in the world. It will be able to handle the largest container boats and all kinds of huge tonnage vessels. The consortium will be led by Italian engineering firm Technital and will include other Italian construction firms partnering with the Iraqi transport ministry. Italy is going to (provide) training on port design, construction and management, as well as technical assistance and planning on industrial zones in the country which will be relevant for the activities of the port, the diplomat added.

The 4.6-billion-dollar (3.4-billion-euro) project will be the biggest infrastructure project in Iraq in 30 years, and will be funded by Iraqi and foreign finance, both public and private.Once completed, Iraq hopes to compete with the Suez Canal which connects the Red Sea and the Mediterranean and through which more than 14,000 ships passed last year.According to the transport ministry, the huge 100-dock facility will have an annual capacity of 99 million tonnes.Fao, near the port city of Basra, was the site of fierce battles between Iraq and Iran during the two countries war between 1980 and 1988.

Alstom Inks $2Billion Dollare Iraq power plant deal:

 

French engineering group Alstom signed an initial agreement with Iraq to build a power plant that could cost up to $2 billion in southern Iraq, a senior French diplomat said on Thursday.

French Ambassador to Iraq Boris Boillon said a final agreement between Iraq's Ministry of Electricity and Alstom, the maker of industrial power plants and high-speed trains, is expected to be signed before the end of the year.

The steam power plant, which will be built near the southern oil hub of Basra, will add 1,200 megawatts of capacity to a country starved of power after years of war, sanctions and economic decline.

The plant will consist of three oil-fired steam units, each with an output of 400 MW, Alstom said in a statement on its website. 'This is just the beginning for other power plant projects,' Boillon told Reuters.

'The cost is under negotiation but it is between $1 billion to $2 billion,' he said, adding the project would need two to three years to complete.

Iraq's available power capacity is about 9,000 MW, and installed capacity at 11,000 to 12,000 MW. Demand is estimated to reach 14,000 MW during summer when temperatures frequently exceed 50 Celsius.

Seven years after the US-led invasion, Iraq's national grid still only supplies a few hours of power each day. Intermittent electricity is one of the public's top complaints.

The memorandum of understanding includes work to revamp a 180 MW power plant which was built by Alstom decades ago, the French company said.

Under the deal, Alstom will also supply and supervise substations in various locations across Iraq and will help train Iraqi technicians and engineers.

Iraq's Oil Minister Hussain al-Shahristani, who has temporarily taken over the electricity portfolio, said the turn-key project will be on deferred terms.

'This plant will contribute enormously in increasing power generation in Iraq,' Shahristani said on Wednesday at a news conference.

The minister said Iraq's electricity consumption is expected to rise by 10 percent every year over the coming 20 years.

'So Iraq needs power plants with 1,000 MW to 1,500 MW capacity each year for the 20 coming years,' he said. Iraq plans to boost power capacity to 27,000 MW in four years and would need to invest at least $3 billion to $4 billion per year to reach that target.

 

 

 

 

American Bank Opened In Iraq To Help Bussiness Grow:

 

WASHINGTON, July 23, 2010 /PRNewswire/ --

Today One Of U.S. Bank opened in Iraq to help finance short-term and medium-term sales of U.S. exports to Iraqi buyers in both the public and private sectors.

"Iraq's economy is growing, offering specific opportunities for U.S. exporters in a variety of industries. US Bank can help by reducing the repayment risk, especially for small businesses at this time,"

On of US Bank can provide export-credit insurance, loan guarantees and direct loans for creditworthy export sales to Iraq. Short-term insurance is available for transactions with repayment terms of 180 days or less, and up to 360 days for capital goods. Medium-term insurance, loan guarantees and loans are available for transactions with terms of up to seven years.

One of American Bank, helps create and maintain U.S. jobs by filling gaps in export financing and strengthening U.S. export competitiveness. The Bank provides a variety of financing mechanisms, including working capital guarantees to help small and medium-sized U.S. businesses, export-credit insurance to protect against nonpayment by foreign buyers, and loan guarantees and direct loans to assist foreign buyers of U.S. goods and services.

In fiscal 2009, overall American bank financing totaled US$21 billion, and authorizations supporting small-business exports reached a historic high of US$4.4 billion, nearly 21 percent of total authorizations.

In the first nine months of fiscal 2010 (through June 2010), One of US Bank authorized US$17.4 billion in loans, guarantees and insurance - more than the total amount authorized in fiscal 2008.


Iraq Relief and Reconstruction Fund (IRRF)

Was established by the US Congress on November 6, 2003. It allocated $18.4 billion to rebuild Iraq's infrastructure, damaged from years of neglect, sanctions, and war.

As of March 29, 2006, approximately $16.3 billion, or 89%, had been obligated and $11.4 billion had been expended. The fund has come under some criticism due to the slowness with which the allocated money has been disbursed, largely because of the time-consuming US procurement process.

A budget for the allocation of the $18.4 billion may be found here.

Weekly updates on reconstruction spending are available from http://www.defendamerica.mil, and from http://www.usaid.gov/iraq .

The duties of the Special Inspector General for Iraq Reconstruction include oversight of expenditures from the Iraq Relief and Reconstruction Fund.

 

Funding for Iraq reconstruction:

Funding of reconstruction efforts began with the creation of the Iraq Relief and Reconstruction Fund (IRRF) in April 2003. The IRRF is administered and funded by the United States. An initial allocation of $2.5 billion was made for immediate food, medicine and water relief.

The Madrid Conference on Reconstruction held in Spain October 23,24, 2003 was organized by the United States to solicit donor pledges from the international community. About $33 billion in grants and loans were pledged. Of this, $18.4 billion was from the U.S. with another $5 billion from Japan, $812 million from the EU, $500 million from Kuwait and offers of loans from World Bank and the IMF amounting from $5.5 to $9.25 billion. Some countries pledged to reduce the debt that Iraq owed to them and to provide direct donations in forms such as food and fuel. The pledge by the United States was fulfilled in November 2003 by adding $18.4 billion to the IRRF.

Much of the non-U.S. pledged money is managed through two additional funds that have been created under the facilitation of the International Reconstruction Fund Facility for Iraq.  The funds are managed by the United Nations Development Group (UNDG) and by the World Bank. Twenty-six donor nations participate in this effort with total pledges, as of June 30, 2006, of $1.4 billion. The United States donates a small amount to these funds but does not control their disbursement.

As of December 30, 2005 the UNDG and World Bank Funds had expended about $0.51 billion and $0.39 billion, respectively. The United States managed IRRF had expended about $11.4 billion as of March 2006.

As of 2009, current spending in Iraq seems to have increased a bit with some consideration of new projects. Since March 2003,the figure has come to a tune of $50 billion (US Dollars) - as the amount appropriated by the US congress in relief and reconstruction. A new inspectorate under the office of Special Inspector General for Iraq Reconstruction (SIGIR)is in place to oversee key essential areas of development. Among these include the establishment of new Iraq forces, creating a free market economy, and put the country on path to achieving an effective democracy. Among the most recent developments (January 2009), also include the initiative in effect to re-define the bilateral relationship between Iraq and the United states, as a way of facilitating "future reconstruction efforts".

 

BAGHDAD (Reuters)  Worried about bombs and suicide attacks? Iraq has the solution for businessmen who want to invest but fear venturing into Baghdad's dangerous streets -- work and live in a mini-city right next to the airport.

The major oil exporter has been struggling to attract much-needed investment to develop its infrastructure after years of militant bloodshed, under-investment and sanctions as many firms wait for security to improve.

Overall violence has dropped significantly in Iraq since the height of sectarian warfare in 2006-07. But bombings and shootings are still occur regularly in Baghdad and elsewhere.

While Iraq has signed eleven deals with global oil companies to develop its richest fields, projects outside the energy sector have rarely gone beyond aspirations. Lingering violence and political uncertainty, four months after an inconclusive election, are keeping most western investors on the sidelines.

To persuade more investors to come, an Iraqi firm is planning to build a "village of businesses" next to Baghdad airport, a 30-minute drive from the city center, according to Shaker al-Zamili, head of the Baghdad Investment Commission.

The mini-city will offer all amenities for businessmen to strike deals, showcase their products and chill out at night -- offices, hotels and apartments, banks, 119 shops, a petrol station, a car rental agency and even duty-free shops. And there will be restaurants, internet cafes and parks.

The area, scheduled for completion in 3-5 years for $250 million, will also house offices of state investment commissions and branches of most government ministries to help investors.

"When a company comes to Iraq, instead of wandering, it could stay and deal with officials and get any information, any details it wants while staying there," Zamili said on Wednesday.

Companies also could rent places for displaying products and services, he added.

Of those brave enough to invest in Iraq despite violence so far, Iranian, Turkish and Gulf companies lead the pack, especially in Shi'ite tourism, housing and banking.

The United Arab Emirates is the biggest investor in large projects, with total pledges of $37.7 billion, while Lebanon tops the list of investment deals below $1 billion, according to a report last year by Dunia Frontier Consultants.

Reporting from Basra, Iraq — Los Angeles Time Aug,6,2010:

Plainclothes security men wait in the lobby of the Mnawi Basha Hotel. Giant clocks advertise the time in New York and Dubai. A British man brags loudly on his cell phone that he has just closed a deal with the Iraqi government, then rushes out to a convoy of waiting cars, accompanied by a clutch of aides in business suits.

The five-star hotel percolates with the ambitions and worries of barracudas looking to make a killing in southern Iraq's new boom market. Their words flip like a schizophrenic's from visions of dollars to disaster and back again.

"This is the time to be here," says an American with an oil services firm. "If you come next year, it'll be too late."

 

Iraq has signed 11 contracts with foreign oil companies to raise daily production capacity from 2.6 million to 12.5 million barrels in seven years. But the massive endeavor unfolds against the backdrop of a government in paralysis, with deep-seated feuds among leading parties, a proliferation of clandestine armed groups and a powder keg of resentments just looking for a spark.

Housing Posted on 16 August 2010.

Dr Sami Al Araji, chairman of Iraq’s National Investment Commission, has said the government has selected 35 international firms to build one million new housing units across the country, Arabic Al Sabah newspaper has reported.

The firms were selected from 117 applicant companies, and are reportedly from U.S., Canada, Turkey, Spain, France, Germany and South Korea.

The $50bn  [60 trillion Iraqi dinars] project will include 244,000 units in the capital, Baghdad, 80,000 in Basra, and 100,000 in Mosul with the remaining units to be constructed in other provinces, including the Kurdistan region, according to population density. The project is expected to be completed within two years of signing the contracts, which is expected to take place within the next three months, Al Araji said.

Rebuilding Iraq $72 Billion Budget Year 2010   Posted on 07 August 2010.

Housing tops Baghdad’s growing to-do list, but as work begins on infrastructure ranging from airports to sewage plants, Iraq’s modest contracting capacity is being stretched to its limits, reports Gulf News.

Iraq faces mounting reconstruction needs across its housing and infrastructure sectors, yet the country’s contracting sector is struggling to maintain momentum as increasing numbers of Iraqis clamor for homes.

Large international contractors have their hands full in other parts of the region, and local players are finding it a challenge to procure equipment and materials to commit to project schedules. All this is slowing progress on key projects for which budget has already been made available.

Iraq’s $72 billion budget for 2010 has earmarked 30 per cent of this spend for infrastructure and development projects and Baghdad has not been shy in promising large sums to flesh out its plans over the longer-term. It has, for example, pledged at least $150bn in total to develop infrastructure, agriculture, transport, telecoms, energy, entertainment and housing industries.

However, the failure to form a government five months after inconclusive national elections isn’t helping things; obtaining licenses and approvals is proving a lengthy process in Iraq, as developers frequently complain.

$299m Shatt al-Arab Canal Project Underway Posted on 11 August 2010.

Preparations have begun on the concrete-layered transportation canal of the Shatt al-Arab Irrigation Project.

“The total cost of the project will be around $299 million [350 billion Iraqi dinars],” the Iraqi Water Resources Ministry said in a press release on Tuesday, received by Aswat al-Iraq news agency.

It noted that the canal will be 128 km long, and will have a discharge capacity of 30 cubic meters per second.

“The canal will run from northern Basra to the south of the province,” the ministry added.

Largest Oil Refinery In Diyala And Building More Than 40,000 Housing Units posted 28 Dec, 2009

Investment Authority in Diyala agreed with a local company to set up the biggest oil refinery in the province at a cost exceeding $ 100 million, and build more than 40 thousand residential units, with an investment of 200 thousand acres of farmland.

The official Investment Authority ,engineer Mjul Mahdi said in a statement for “Al Sabah”: that the Authority held in cooperation with the local administration in Diyala, the first investment conference in Sulaimaniyah province for the period from 17 to 22 of December, adding that at the conference which was attended by Tenths of global ,Arabic and local investment firms, an agreement was done with one of them to set up a giant oil refinery in the province at a cost of $ 137 billion and a capacity of up to 30 thousand bpd, especially after the second round for licensing of oil released by the Ministry of Oil deter companies from investing in the province, although the security situation improves and there is a lot of oil wells and specifically within Khanaqin.

He said the project aims to sufficient the actual need of the product oil in all areas of the province, as well as absorption of unemployment after the agreement with the company executing the operation of the labor of the people of Diyala, as well as the selection of cadres advanced engineers and specialists according to standards and guidelines set by the executing company.

He noted that the conference also witnessed the agreement with a number of Italian companies on building the largest residential compound in Diyala province, an area of 1300 acres stretching from the jurf al mlah until the sada area on the eastern side of the city of Baquba.

He said the project includes construction of 40 thousand residential units distributed among the employees and citizens equally under the installment method, as well as an agreement to establish a residential complex in the Saad camp consists of 3000 units at a cost of $ 240 million with the creation of buildings, markets, multi-layered recruitment of a building near the old central Baquba, at a cost of six million dollars. He added that the agricultural sector projects included the investment of 187 thousand acres in an agricultural area near the camp of the great new Iraq (Ashraf earlier) to establish a coefficient of paste and olives.