Industrial Metal Casting equipment Archives

May 2, 2019

New Investment at Umm Qasr Port

Basra Multi-purpose Terminal (BMT), the largest multi-purpose port facility in Iraq, announces a major development in the Port of Umm Qasr.

Marking a significant expansion to their existing facilities, BMT will be increasing their total investment in Umm Qasr Port to over USD 200 million, aimed to further advance the port in the international trade and transport sector.

In addition to BMT’s current 4 berths and 650,000 m2 of terminal space in the port of Umm Qasr, the development entails a further construction of 3 new berths, as well as a new roro berth.

The quay wall that will be constructed at this facility will be based on a block wall construction, a technique that is unique to Iraq. It has a high seismic resistance and a life span of approximately 100 years, without any need for maintenance.

BMT has awarded the quay wall construction contract to the Turkish company Enka.

The design of this new facility was done in cooperation with the Dutch-based engineering consultancy Royal Haskoning DHV.

Once completed, BMT will offer 7 berths in the Port of Umm Qasr, with over 1 million square meters of terminal space. The new terminal will include an area especially designed for receiving heavy lifts cargoes, able to easily withstand cargoes of over 1.000 tons, while the quay wall will be able to receive vessels with a capacity of 14.000 TEUs.

In addition, BMT will furnish their new facility with all new equipment, benchmarking this project on an international scale. All together this investment will further strengthen the position of Iraq as international trade partner in the region.

Source:http://www.iraq-businessnews.com/2018/06/06/new-investment-at-umm-qasr-port/

May 2, 2019

IBBC presents Iraq’s First Tech Conference

The IBBC (Iraq Britain Business Council) is launching a Tech Conference in Baghdad on 29th and 30th April.

The Conference is showcasing leading Iraqi and International companies with the intention of building confidence for Tech initiatives within Iraq.

Iraq is at a pivotal point in its development as it revives and rebuilds its infrastructure, so now is an ideal time to review the opportunity that modernisation and tech could bring to the country. IBBC is keen to support modernisation and its benefits, and to share what we have learned in the UK.

With political leadership, a positive investment climate and the talent and interest among young people and the right educational skills, tech can take off in Iraq, in the way it has in the UK.

The conference aims to showcase the best tech companies in Iraq, to give confidence and support to those on the way up and to change perceptions about the country and encourage investment.

IBBC Marketing Consultant Ashley Goodall says:

“We believe that Technological applications can enable Iraq to become more productive and efficient and a drive for transparency, a mechanism for government payments, a means to interact with citizens, and a source of new employment opportunities for young people.”

Christophe Michels Managing Director of IBBC says:

“We are all excited about the prospect of holding this prestigious event for IBBC members, the Tech Community and the wider people of Iraq. We hope and expect it will have an impact on all audiences to encourage a more rapid uptake of technological expertise, skills, and investment in Iraq.”

Leading Iraqi companies include: Almaseer Insurance, Inspire Solutions, Zain Telecom, Careem, Switch, Media World, Zain Pay, National Bank of Iraq, KRG, Onyxes, Re:coded, Five One Labs, Khudairi Group, Iraq Tech ventures, Arabnet, Central Bank of Iraq and many international groups such as BP, PWC, EY Iraq, KPMG, Finastra and many more. The Governor of Central Bank of Iraq kindly confirmed his attendance.

IBBC want to provide a platform and focus for Tech in Iraq and give inspiration and confidence to those building a modern Iraq. Come and join the new wave and help modernise Iraq.

The IBBC Tech Conference is taking place in Baghdad, the Babylon Hotel on 30th April with an Entrepreneurs event on 29th April.

(Source: IBBC)

Source:http://www.iraq-businessnews.com/2019/04/17/ibbc-presents-iraqs-first-tech-conference/

May 2, 2019

Iranian Exports to Iraq Hit Record High

The total amount of the Iranian exports to neighboring Iraq during the last Persian calendar year (March 2018- March 2019) hit a record high, the data released by Iran’s Customs Office showed.

During the last Iranian year, the Islamic Republic exported $9 billion worth of products to Iraq, indicating a 36 percent increase comparted to a year earlier, setting a new record in the bilateral trade between the two countries, the Customs Office report said.

The data also showed that the total value of Iran’s non-oil exports over the 12-month period amounted to $44 billion, with petrochemicals accounting for $14 bln of the exports.

The top export destination of Iran was China, according to the report.

Iran and Iraq have stepped up efforts in recent years to develop their ties in different areas, including economy and trade.

Speaking at a joint press conference with Iraqi President Barham Salih in Tehran back in November, Iranian President Hassan Rouhani said the value of trade and economic interaction between Tehran and Baghdad stands at around $12 billion, adding that the two neighbors have the potential for a $20-billion trade target.

In February, the governors of the central banks of Iran and Iraq signed an agreement to develop a payment mechanism aimed at facilitating banking ties between the two neighboring countries.

(Source: Tasnim, under Creative Commons licence)

Source:http://www.iraq-businessnews.com/2019/04/24/iranian-exports-to-iraq-hit-record-high/

April 1, 2019

Iran’s Non-Oil Exports Hit $40bn in 11 Mths

The head of Iran’s Trade Promotion Organization (TPO) announced that the country’s non-oil exports over the first 11 months of the current Iranian year (March 21, 2018 – March 20, 2019) have reached 40 billion dollars.

Speaking to the Islamic Republic of Iran Broadcasting (IRIB) on Thursday night, Mohammad Reza Moudoudi said the non-oil exports of the country in the first 11 months of the current year reached $40 billion, which showed a 0.75 percent decrease compared to the same period last year.

However, he said, the value of non-oil exports in the first 10 months of this year has witnessed an increase compared to a year earlier.

The official went on to say that the main reason for the decrease of our non-oil exports over the past 11 months was the restrictions on the sales of gas condensate, whose exports dropped by about 37.5% compared to a year earlier.

Iran has stepped up efforts in recent years to enhance its non-oil exports and reduce dependency on its oil revenues. The rise in the country’s exports comes despite the US sanctions.

US President Donald Trump walked away from the 2015 nuclear deal between Iran and world powers in May and re-imposed sanctions on the Islamic Republic.

Following the US exit from the nuclear deal, Iran and the remaining parties launched talks to save the accord.

Trump on August 6 signed an executive order re-imposing many sanctions on Iran, three months after pulling out of the Iran nuclear deal.

He said the US policy is to levy “maximum economic pressure” on the country.

The second batch of US sanctions against the Islamic Republic took effect on November 4.

Source:http://www.iran-bn.com/2019/03/25/irans-non-oil-exports-hit-40bn-in-11-mths/

April 1, 2019

Iran Launches New Phases of South Pars Gas Field

Iran’s president inaugurated four new phases of the large South Pars gas field in the southern province of Bushehr on Sunday.

Accompanied by the minister of oil and other top officials, President Hassan Rouhani inaugurated the phases 13, 22, 23 and 24 of the South Pars gas field.

Each of the new phases has a daily capacity of producing 56 million cubic meters of natural gas.

In these four phases, 77,000 barrels of gas condensate and 400 tons of sulfur are produced on a daily basis, and 1.5 million tons of liquid gas and one million tons of ethane are also produced per year, officials say.

The opening of new gas refinery complexes in the four phases has raised Iran’s gas refinement capacity in the South Pars gas field to 700 million cubic meters a day.

Iran’s capacity for daily gas extraction from the joint gas field has now reached 660 million cubic meters.

South Pars, whose development has been divided into 28 phases, is located in the Persian Gulf straddling the maritime border between Iran and Qatar.

It covers an area of 9,700 square kilometers, of which 3,700 square kilometers belongs to Iran.

It is estimated that the Iranian section of the field contains 14 trillion cubic meters of gas and 18 billion barrels of condensates in place.

Source;http://www.iran-bn.com/2019/03/27/iran-launches-new-phases-of-south-pars-gas-field/

April 1, 2019

South Pars Gas Output to Hit 750 mcm by Late 2019

Iranian Minister of Petroleum Bijan Zangeneh said the country’s gas production capacity from the supergiant South Pars gas field would cross 750 million cubic meters per day by late 2019.

Addressing a ceremony to officially launch phases 13 and 22-24 of the major joint gas field, that was held in the presence of the Iranian President Hassan Rouhani in the southern city of Assaluyeh on Sunday, Mr. Zangeneh said the first South Pars development contract was struck back in 1997, and until August 2005, only 5 phases of the field were completed.

Between 2005 and 2013, the 5 unfinished phases were completed, he added, saying that in the period from 2013 to 2018, Phase 12 came online in 2014, phases 15 and 16 were completed by 2015, in early 2017, 6 phases became productive and today 4 other phase have come on-stream. “This brings the total number of South Pars refineries which became operational during the period to 15.”

He said plans were under way to bring online three more South Pars phases by mid-2019 which would include phases 13, 14 and 22-24.

The official further added that Iran’s gas production capacity stood at 622 mcm/d back in 2013 which is currently at 841 mcm/d and was expected to reach 880 mcm/d next calendar year (which begins on March 21) and 950 mcm/d by 2020.

The Iranian Minister of Petroleum added that gas production from South Pars stood at an average of 610 mcm/d while production capacity was 660 mcm/d from the joint gas fields.

Source:http://www.iran-bn.com/2019/03/28/south-pars-gas-output-to-hit-750-mcm-by-late-2019/