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FINANCIAL NEWS
Globim wins $600m monorail contract in Iraq
27 Jun 2010
(MENAFN) A member of Najaf?s investment committee in Iraq said that the city?s council has awarded a $600 million contract to a Canadian company to build the country’s first monorail, Reuters reported.
He pointed out that the contract was awarded to TransGlobim International (Globim), a privately-owned Canadian consortium.
The monorail is one of a number of large-scale infrastructure projects discussed by Iraqi officials since the fall of the former regime, including a plan for a multi-billion dollar Baghdad metro, none of which has been built.
Now emerging from the sectarian warfare unleashed after the 2003 US-led invasion but still suffering frequent insurgent attacks, the country is seeking ways to fix its roads, railways, ports, power plants and other basic infrastructure.
More News
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Empowering Success: BBK and BIBF honor 24 graduates of the BBK’s Women on Board Programme
16 Mar 2023
BBK partners with Four Seasons Private Residences Bahrain Bay to offer ownership financing for 112 waterfront homes.
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