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Azzaman, February 26, 2012
Korean and Iranian firms are vying for lucrative contracts in Iraq’s southern Province of Basra, according to the head of Basra Investment Commission.
The commission’s deputy chairman, Hayder Fadhil, said scores of large and small projects were for grabs in the city and both the Koreans and the Iranians were among the first foreign investors showing serious interest.
He said he expected more foreign firms to seek contracts in Basra as it emerges as one of Iraq’s most quiet and secure provinces.
Fadhil made the remarks following separate meetings with two delegations, one from South Korean and the other from Iran.
“The Directorate of Contracts in the province will announce a number of contracts for gigantic projects in the province in the coming few days,” he said.
The head of the Iranian delegation, representing a group of 172 firms, said he was seeking contracts in various fields.
Iranian firms are active across the country, implementing projects worth billions of dollars.
The Iranians, according to Fadhil, are mainly interested in the energy sector, infrastructure and reconstruction.
Basra’s allocations from the both the national budget and oil sales are increasing.
It currently gets about two million dollars per day directly from oil sales originating in its oil fields.
Each Iraqi province is entitled to one dollar per day for each barrel of oil produced from its oil fields.
Basra produces about two million barrels of oil a day.
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Korean and Iranian firms are vying for lucrative contracts in Iraq’s southern Province of Basra, according to the head of Basra Investment Commission.
The commission’s deputy chairman, Hayder Fadhil, said scores of large and small projects were for grabs in the city and both the Koreans and the Iranians were among the first foreign investors showing serious interest.
He said he expected more foreign firms to seek contracts in Basra as it emerges as one of Iraq’s most quiet and secure provinces.
Fadhil made the remarks following separate meetings with two delegations, one from South Korean and the other from Iran.
“The Directorate of Contracts in the province will announce a number of contracts for gigantic projects in the province in the coming few days,” he said.
The head of the Iranian delegation, representing a group of 172 firms, said he was seeking contracts in various fields.
Iranian firms are active across the country, implementing projects worth billions of dollars.
The Iranians, according to Fadhil, are mainly interested in the energy sector, infrastructure and reconstruction.
Basra’s allocations from the both the national budget and oil sales are increasing.
It currently gets about two million dollars per day directly from oil sales originating in its oil fields.
Each Iraqi province is entitled to one dollar per day for each barrel of oil produced from its oil fields.
Basra produces about two million barrels of oil a day.
[You must be registered and logged in to see this link.]
