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Latest Iraqi Steel News
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Iraq to build a $250 million network of pipes and 30 Steel Storage Tanks
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Iraq seeks to build a $250 million domestic network of pipes to provide power stations in the country with gas-fuel, Kuwait News Agency reported. An official at the Ministry of Oil said that the type of gas-fuel that will be provided to the stations used to be burned into the atmosphere because there was no use for it. The official added that another project the ministry is planning is the construction of 30 massive oil storage tanks or reservoirs at sea and river ports, indicating that the storage tanks will facilitate the export of oil and other fuels. |
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Iraq Announces Procedure for Exporting Scrap Metal
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Iraq Ministry of Trade has recently announced procedure for exporting scrap metal. The Ministry has implemented General License regulation to export scrap metal to be valid as of April 30, 2004 till December 31, 2004. However, the regulation does not require acquisition of a physical license. It rather requires payment of license fee for each shipment. The fee of license is determined as ID 50’000 per metric ton.
According to export procedures, any Iraqi or foreign company in Iraq is allowed to export scrap metal at any quantity following the payment of license fee to certain banks specified by the Ministry. Shipments are allowed to be materialized five days after the receipt is presented to Iraq Customs Service. Each shipment individually requires payment of fee. Any receipt, on the condition that it is not used before, is valid due December 31, 2004. |
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Emaar Dubai, to invest in Iraq Steel Factory
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Emaar Properties and the Iraqi Government of South Basra signed on Saturday a $900 million deal where the UAE company will invest in constructing a steel factory worth $500 million and
petro-chemical factory at $400 million in Basra, said Yahia Majeed, Chairman of Economic Development in the city.
Construction work on the petro-chemical factory will commence next June and is expected to function in full swing within three years. |
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Parker components to serve Basra refinery
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Parker components to serve Basra refinery
Parker Instrumentation has been selected to supply components for the refurbishment of the Basra refinery in southern Iraq.
The company expects to supply valves and compression tube fittings worth over a quarter of a million dollars during the first quarter of 2004.
The order includes over 1,000 of the company’s latest Hi-Pro ball valve, a high-integrity design from Parker’s Barnstaple development laboratory that enhances reliability by means of a compact two-piece construction. The valves are ideal for the
long-lifecycle requirements of the upgrade project, and will provide isolation mechanisms for the refinery’s instrumentation and control network.
“This is the first high-volume order for this new valve and it confirms the cost-effectiveness of the design,” said marketing and business development manager Richard Roebuck.
“Local support was another important factor in securing the order, which was met by our existing network of stocking distribution centres throughout the Middle East, one of which has taken responsibility for supporting our growing business in Iraq.”
The Hi Pro valve’s novel two-piece construction reduces potential leak paths to a minimum. With the added ability to select integral
A-LOK compression tube fitting ends, eliminating the use of taper thread interfaces and any need for sealants, the valve offers exceptional integrity to meet the most demanding requirements of oil, gas and chemical process applications.
In addition to enhancing integrity, the two-piece body also ensures compact size. As an example, the overall body length of the smallest version is just 2.76 inches/7 cm. |
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Coaliton Authority opens new Reconstruction office
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The Coalition Provisional Authority in Iraq has opened a new office called the
Iraq Infrastructure Reconstruction Office (IIRO), which will be responsible for
the approved U.S. Government reconstruction funding of $18.6 billion. Despite
some security concerns, U.S. Commerce Secretary Evans recently returned from a
two-day visit to Baghdad reporting substantial reconstruction progress and keen
local interest in doing business with the international business community. |
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Borusan Boru opens warehouse in Baghdad
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Borusan Boru, a Turkish global scale pipe manufacturer, recently set up a 1.500
m2 warehouse in the centre of Baghdad, to serve and follow local tenders and
inquiries. An investment in a pipe facility in Iraq will be reconsidered when situation in Iraq becomes more stable. |
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