Thursday, March 13, 2025

Iraqi Ports: Plans To Establish An Industrial Zone And Large Companies In The Grand Faw Port, 14 MARCH

 Iraqi Ports: Plans To Establish An Industrial Zone And Large Companies In The Grand Faw Port


Director General of Iraqi Ports Farhan Al-Fartousi  Money and Business  Economy News - Baghdad
The Iraqi General Company for Ports confirmed on Wednesday that it has reached advanced stages of contracting with an international company to manage and operate the Faw Port. It also indicated that a large package of projects will be announced at the Faw Port, similar to the refinery package.

“The fixed part of the submerged tunnel will soon be 100% complete, consisting of two lanes for outbound and two lanes for outbound, connected to the highway from the outside and to the submerged tunnel from the inside,” said Farhan Al-Fartousi, director of the Iraqi Ports Company, in a statement reported by the official news agency, and seen by Al-Eqtisad News. 

He explained that “the submerged part consists of 10 concrete blocks, 11 meters high, 34 meters wide, 126 meters long, and weighing 45,000 tons, which were completely poured into a special basin called the (submerged tunnel basin).”

“After the sections were created, they were examined and prepared, and then the floating operations began, i.e. lifting them with water and transporting them to the designated location, and starting the process of submerging and connecting them to the fixed sections,” 

he added, indicating that “our cadres and the companies working with us, namely the Italian company Technical, which is supervising, the Korean company Daewoo, which is implementing the project, and the Dutch company specializing in such work in the world, were able to connect the first section and place it in its place, and open it to the fixed section, and it became part of the tunnel. 

We had a tour and presence in this section, and at the same time the cadres began floating the second section until it was formed. After the ten sections are connected, the tunnel will be completed and ready across both banks, whether the direction is from Umm Qasr to Al-Faw or vice versa.”

On the other hand, Al-Fartousi explained that "we have reached very advanced stages of contracting with a scientific company to manage and operate the port. We are awaiting the consulting company's opinion on the contracting mechanism, regulations, and other details. After that, the file will be presented to the Supreme Committee for approval, and we will proceed with the contract."

Al-Fartousi pointed out that "there is a large package of projects, including the naval base project, which will be contracted within a month or a month and a half, followed by the liquefied natural gas station project, in addition to the major project, which is a refinery within the port complex, and a petrochemical plant, which was contracted by the Ministry of Oil, and we are following up on this file, which will be operational soon."

He added, "We have a plan to establish an industrial zone, and there are communications and companies interested in entering into this major project. A large package of projects will soon be announced in the port of Faw, similar to the refinery package."  https://economy-news.net/content.php?id=53344


FIREFLY: They have agreed upon a target date of when to show the new exchange rate!!, 14 MARCH

 Frank26  

[Iraq boots-on-the-ground report]  

FIREFLY:Television is saying...there will be another meeting...Why they keep having these meetings

 FRANK:  IMO they have agreed upon a target date of when to show the new exchange rate.  IMO right now what Mr. Sammy's bank is doing is applying a new software...that deals with foreign currency.  Because your currency must be recognized by the world. 

 Your new Iraqi dinar will be one of a few currencies that will turn.  This software is being presented to all the banks...exchange centers in preparation...

TEXAS SNAKE: Again I ask all to remain on alertannouncement is at any moment!! @DINARREVALUATION

 


It amounts to 216 trillion... A date has been set for submitting the budget tables to Parliament , 13 MARCH

 It amounts to 216 trillion... A date has been set for submitting the budget tables to Parliament 

Deputy Chair of the Parliamentary Finance Committee, Ikhlas al-Dulaimi, ruled out the government's submission of budget schedules within the next two months on Wednesday, while confirming that the 2025 budget amounts to 216 trillion Iraqi dinars.

Al-Dulaimi said, "The Ministry of Finance has not yet sent the 2025 budget tables to the Council of Ministers, even though they were supposed to be sent in October 2024, in accordance with the Financial Management Law, for approval before the start of the new year."

She added, "The total budget amount is 216 trillion dinars, while actual spending is estimated at about 160 trillion dinars."

Al-Dulaimi ruled out "sending the tables to the House of Representatives within the next two months," noting that "the Ministry of Finance has not yet completed their preparation, which could lead to the postponement of budget approval until after the elections."

Last February, the Iraqi Parliament voted on the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.  link


TEXAS SNAKE UPDATE, 13 MARCH

 Texas Snake

Again I ask all to remain on alert

announcement is at any moment!!

--


Please be aware those who haven't already noticed we have a 3-day weekend ahead 


Need to close a CC has just been announced 


Very short call but important intel, steps taken today to insure CBI has taken necessary steps to insure exchange capabilities beginning Monday if release is confirmed.

Steps are in place.

EXCERPTS FROM MARKZ : I HAD MORE CONFIRMATIONS TODAY @DINARREVALUATION #iraqidinarinvestor

 


Kurdistan Region confirms oil sales through SOMO: We will give our money to Baghdad, 14 MARCH

 Kurdistan Region confirms oil sales through SOMO: We will give our money to Baghdad

The Kurdistan Regional Government (KRG) on Wednesday affirmed the region's firm position to implement an amendment to the budget law, allowing the region's oil to be exported and sold through SOMO, with the proceeds returned to the federal Ministry of Finance.

A statement issued by the Kurdistan Regional Government's Council of Ministers, seen by Al-Eqtisad News, said, "The President of the Council, Masrour Barzani, held a meeting attended by his deputy, Qubad Talabani, during which the Prime Minister instructed the Ministry of Finance and Economy to prepare a schedule for distributing salaries to Kurdistan Region employees for the month of February, after the deposit of 958 billion dinars into the ministry's account for that month."

The Council decided to begin distributing salaries starting tomorrow. All ministries and institutions were also tasked with preparing March payrolls as soon as possible and sending them to the Federal Ministry of Finance, with the goal of disbursing them before the Eid al-Fitr holiday.

The statement confirmed that "in the first part of the meeting, Kamal Mohamed Saleh, Acting Minister of Natural Resources, reviewed the latest developments in the joint meetings between the Ministry of Natural Resources and the Federal Ministry of Oil, in the presence of representatives of oil companies."

The minister explained the efforts being made to resume the region's oil exports within the framework of the federal budget law. The Council of Ministers commended the Ministry of Natural Resources' efforts to accelerate the process of resuming oil exports and its joint work with the Iraqi Ministry of Oil to resolve the obstacles related to the process. 

The Council also affirmed the "regional government's firm position to implement the amendment to the budget law so that the region's oil is exported and sold through SOMO and its revenues are returned to the federal Ministry of Finance." link


🚨🇮🇶 A Major Shift Could Be Coming for Iraq... and the Iraqi Dinar! 💵🔥

 🚨🇮🇶  A Major Shift Could Be Coming for Iraq... and the Iraqi Dinar!  💵🔥 A new report suggests that Iraqi Prime Minister Ali Al-Zaidi...