Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.
IRAQ, ITALY : Iraq awarded $468.5 million contract to expand oil export facilities
Publish Date : 17-Sep-2011
Iraq has awarded a $468.5 million (342.5-million-euro) contract to expand oil export facilities in the southern port city of Basra to Italian firm Saipem.
Government spokesman Ali al-Dabbagh stated, “The council of ministers has approved the awarding of a project to expand export infrastructure in the south to Italian company Saipem.” He said, Saipem is required to conclude the work on the project within two years following the signing of the contract.
It is to be noted that almost 80 percent of Iraq\'s oil exports are being transported through the country\'s southern ports. In order to increase production capacity, Baghdad has awarded many contracts to foreign energy firms and it is also in efforts for enhancing export related infrastructure.
