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Iraq Infrastructure Report Q3 2010
Market |
Construction |
Report Type |
Market Research |
Country |
Iraq |
Published |
21 July 2010 |
Number of Pages |
78 |
Download |
|
Immediate |
|
Publisher |
Business Monitor International |
File Format |
- |
Iraq's infrastructure sector continues to be the main focus of reconstruction efforts in the country. While the electricity sector continues to take centre stage, progress is being made in the transport sector, especially in the railways sector, where tenders are under way for new projects.
In May 2010, the government announced a new target for the electricity sector, to generate 27,000 megawatts (MW) of electricity by 2013. With current nameplate capacity standing at around 15,000MW, this includes almost doubling capacity in three years. This target is ambitious to say the least. The plans revolve around installing the turbines purchased from General Electric (GE) and Siemens in 2009. In an effort to set the ball rolling, tenders have been released for installing 28 of the 72 turbines purchased. The tenders appear to be progressing well, but as always with Iraq, there are concerns over funding for the projects, and smooth running of the tender. Another concern is the ability to exploit the gas reserves, which will be required to power the turbines – this is reliant on bidding rounds for the fields going smoothly and a large deal with Shell to capture flared gas going through.
There is increasing pressure for the government to improve the electricity supply. Soaring temperatures over the summer months have resulted in protests over harsh power rationing imposed to preserve what little electricity is generated. These protests have at times turned violent, and culminated with the Electricity Minister, Karim Wahid offering his resignation in late June. The violence illustrates the continued social unrest in the country, and the ease with which the security risk can escalate, something which is also illustrated by the violence linked to the elections in March 2010.
Although the electricity sector has been the main focus of the infrastructure sector over the past year, reconstruction efforts in the transport sector have been progressing steadily. Eight bidders have been shortlisted for the Baghdad metro project, and plans to expand Baghdad international airport were announced in May 2010. The construction of the Port of Al Faw at Basrah is also progressing. Developments mean that we are anticipating Iraq's construction industry to post strong growth in 2010. In the Q310 Iraq Infrastructure Report we are forecasting the construction industry to post real growth of 4.67% year-on-year (y-o-y), to reach a value of IQD6,598bn (US$5.64bn).
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