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Iraqi News
19-05-2025
- Business
- Iraqi News
Iraq plans to begin Baghdad Metro project in 2025
Baghdad ( – Iraqi Prime Minister's advisor Mohammed Al-Najjar revealed on Monday that Iraq plans to start the first phase of the Baghdad Metro project before the end of 2025. In a statement to the Iraqi News Agency (INA), Al-Najjar explained that the project involves years of development and will be implemented in phases. In November 2024, Iraqi Prime Minister's Advisor Naser Al-Asadi revealed that the pathway design of the Baghdad Metro has been completed. Al-Asadi said that the government consulting agency has begun drafting the project's specifications for the tracks, trains, and stations, which will contain subterranean, surface, and elevated parts. With seven lines that range in length from nine to 37 kilometers, the project will cover the majority of the Iraqi capital and could be upgraded to reach other areas, according to Al-Asadi. The Iraqi cabinet announced in late July that the businesses selected to design, build, and run the Baghdad Metro project include France-based Systra and SNCV, the Spanish Alstom, Talgo, and Sener enterprises, Turkish construction companies, and Germany's Deutsche Bank. Al-Asadi told Reuters earlier that Baghdad Metro would span 148 kilometers (92 miles) with seven lines and 64 metro stops. The $18 billion-worth project should be finished after four years, according to Al-Asadi. A large percentage of Baghdad commuters rely on taxis and buses for transportation, and because of high traffic, basic trips can take hours to reach their destinations, according to Reuters. Baghdad Metro, which had been initially proposed in the 1980s, was abandoned due to years of violence and international sanctions. Once finished, it will be the first of its sort in Iraq. Earlier in July, the Mayoralty of Baghdad inked a $315.9 million deal with Malaysia's HSS Engineering Berhad (HEB) to offer consultancy services for Baghdad Metro. The Malaysian company will oversee project management, provide consulting services, and monitor the progress under this contract. The Baghdad Metro is a significant initiative designed to alleviate traffic congestion and offer a modern, efficient transportation system in Iraq's capital, home to approximately eight million residents.
Zawya
19-05-2025
- Business
- Zawya
Iraq to launch Baghdad metro project in 2025
Iraq is planning to start the multi-billion-dollar Baghdad metro project at the end of 2025 after a delay of several years, an official said on Monday. The project, Iraq's first metro, will take several years as it comprises more than 60 train stations and covers at least 150 km of roads, said Mohammed Al-Najjar, an adviser to Prime Minister Mohammed Al-Sudani. Quoted by the official Iraqi News Agency (INA), Al-Najjar said the Transport Ministry has drawn up a plan for project execution and operation. 'We hope that phase one of this project will begin before the end of this year…this large project needs years to be completed and it will be carried out in stages,' Al-Najjar said. On Sunday, Baghdad Mayor Ammar Musa said bids were submitted by several companies, in addition to proposals from the Iraqi Development Fund. He told the INA that a consultancy firm appointed by the municipality is reviewing the proposals. 'We have reached advanced stages in the selection process for the companies that will implement this significant and long-term project,' he said. (Writing by Nadim Kawach; Additional writing by Majda Muhsen; Editing by Anoop Menon) (
The Sun
22-04-2025
- Business
- The Sun
HEB Group declares 1.46 sen dividend after posting record earnings in FY24
PETALING JAYA: Engineering and project management consultant HSS Engineers Bhd (HEB Group) declared a final single-tier dividend of 1.46 sen per share in respect of the financial year ended Dec 31, 2024 (FY24), compared to 1.21 sen per share paid out in the previous year (FY23). The FY24 dividend payout is estimated at RM7.4 million or about 30% of profit after tax (PAT), in line with the dividend policy targeted at 30% of annual PAT, subject to approval by shareholders at the group's annual general meeting on June 11. The dividend payment reflects the group's impressive financial results, with net profit increasing 23% to a record high of RM25.2 million in FY24 from RM20.4 million in FY23. The improved performance was fuelled by the group's expanding presence in international markets and deepening involvement in emerging sectors. Executive vice-chairman Tan Sri Kuna Sittampalam said: 'We are glad to reward our shareholders with higher dividends as we reap growing financial gains from our rising regional presence and diversified sector coverage. The historic net profit reflects the strength of our adept engineering services, deployed to transformational projects across various industries and countries.' Looking ahead, he said they aim to sustain their earnings momentum. 'We look forward to reprising our prominent role in transportation and water-related projects while accelerating our involvement in data centres, artificial intelligence-powered drone solutions, and renewable energy,' he said. As at Dec 31, 2024, the group's order book stood at RM2.1 billion and will be billed progressively over the next eight years. The order book, the biggest in the group's history, includes new contract wins in FY24 amounting to over RM900 million across various sectors and countries. Notable wins last year include Westports 2 Expansion Development Phase 1, two new data centre projects in Johor, the Phnom Penh-Bavet Highway in Cambodia and the group's largest-ever contract – the Baghdad Metro project in Iraq's capital. The group is actively pursuing more opportunities in the infrastructure sector, with a tender book of RM504 million worth of projects across the domains of highways, roads, rail, ports, water infrastructure, data centres, and renewable energy.
