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Iraq projects market worth $519bn

Dubai, February 23, 2014

Iraq is one of the fastest growing projects market in the region, with more than $519 billion worth of projects planned or underway, according to a report.

The Meed’s Gulf Projects Index as of January said that about 28 per cent of these projects are in the oil sector as Iraq pushes to revitalise its hydrocarbons industry with a projected $145 billion oil project planned or underway.

Only Saudi Arabia with $1.05 trillion and the UAE with $713.15 billion have larger project markets, said the index.

Meed is set to host the Iraq Energy Projects conference from February 25 to 27 at the Westin Mina Seyahi, where the latest opportunities in Iraq’s oil and gas, power and water, as well as chemical sectors will be detailed.

Suhail Mohamed Al Mazrouei, Minister, UAE’s Ministry of Energy, and Karim Aftan Al Jumaili, Minister, Iraq’s Ministry of Electricity, will speak on increasing trade and co-operation between UAE and Iraq.

Edmund O’Sullivan, chairman, Meed Events, said: “Iraq Energy Projects 2014 is the definitive event for all those serious about business opportunities in Iraq’s oil and gas, power and petrochemical sectors. In addition to the high level of speakers and experts sharing their insights on Iraq, attendees will be able to meet Iraqi lawmakers and gain clarity on future policy through open Q&A sessions at the event.”

Delegates will also receive hands-on tactical expertise and transfer of expert experience on how to successfully deliver projects in Iraq, he said.

“Any international company that establishes itself in Iraq at this stage is sure to win many allies that will provide a valuable first-mover advantage for long and fruitful business in the years ahead,” added Richard Thompson, editorial director, Meed. - TradeArabia News Service




Tags: Iraq | project | market | plan |

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