| Work Detail |
The National Investment Commission (NIC) will shortly award the contracts along with other projects for the cities
Iraq has announced the construction of five new residential cities as part of a post-war drive to tackle widening housing supply shortages
The National Investment Commission (NIC) will shortly award the contracts along with other projects for the cities to be announced later, NIC spokesman Muthanna Al-Ghanimi told the official Iraqi news agency on Sunday.
He said the five new cities are in Baghdad, the central Karbala and Babylon Governorates, Nineveh in the North, and the Western Al-Anbar, Iraq’s largest governorate.
Ghanimi said NIC would award the contracts to local and foreign firms but added that priority would be given to “serious companies”.
“Only serious and experienced firms will be permitted to bid for such projects…companies which have proved efficient in executing previous projects will have a bigger chance in winning the contracts,” he said.
Iraq is harping on oil revenues to fund its development. The country’s current production capacity stands at 5.4 million barrels per day (bpd) the oil ministry is planning to boost this figure.
Oil Minister Hayan Abdel-Ghani, said on the side-lines of OPEC seminar in Vienna, last week: "Iraq aspires through promising plans to raise production capacity to 6 million barrels per day, through licensing contracts concluded with companies in the coming phase." |
