OCTAGON is building bored piles for Electric Power Plant 1250 MW Shatt Al- Basra, Irak

Electric Power Plant 1250 MW Shatt Al- Basra

A country with an economy extensively affected by war, full of demolished buildings and a poor road infrastructure, Iraq represents a major business opportunity for construction companies all over the world. As national economy is recovering, housing demand, caused by high deficit at the end of the 20th century, increases and requires significant investment in development projects. Rebuilding Iraq’s roads and transport is vital for foreign companies to transport equipment and merchandise, as they develop their projects in the country.

Electric Power Plant 1250 MW Shatt Al- Basra

Few are those who, despite of having identified the economic potential of the country, are taking the risk of investing in a country with major security issues. OCTAGON CONTRACTING & ENGINEERING is among the companies that have taken advantage of the opportunities provided by the Iraqi market. The company opened a branch in Baghdad in 2011.

Electric Power Plant 1250 MW Shatt Al- Basra

“Our anchor during crisis was the Iraqi market. We decided to try another market with long term growth perspectives and that provides liquidities for infrastructure projects.  The security issues were an advantage for us, as they keep the competition at distance. Right now we are building awareness on the market and we are waiting for a stabilization of the political situation. The fact that we already have three projects ongoing is a positive sign and confirms the fact that we had good intuition when we made this decision.” said Alexandros

Electric Power Plant 1250 MW Shatt Al- Basra

Ignatiadis, co-founder and shareholder of OCTAGON.

OCTAGON has three ongoing projects in Baghdad and Basra. One of these projects is the Electric Power Plant 1250 MW Shatt Al- Basra, where the company is building bored piles D 1.000, for the contractor Metka. The company has a team of Romanian and Iraqi workers and engineers working on the project at high pace.

Electric Power Plant 1250 MW Shatt Al- Basra

OCTAGON is using the experience accumulated while building the biggest private electricity cogeneration greenfield project, built in Romania in the past 20 years: Combined Cycle Electric Power Plant 867 MW OMV- Petrom (Brazi). The construction works were performed between 2009- 2011 and the power plant began the commercial operations on August 1^st 2012. OCTAGON performed geotechnical, structure, architecture, installation (electrical, sanitary) works and exterior works within the project.  

Electric Power Plant 1250 MW Shatt Al- Basra

OCTAGON is also working in Iraq on the construction of a residential project:  Iraq Gate Residential and

Electric Power Plant 1250 MW Shatt Al- Basra

of Al Zawraa Stadium, both located in Baghdad.

A number of large- scale infrastructure and real estate projects are underway and a combination of several factors makes Iraq a favorable business and investment destination. 

Electric Power Plant 1250 MW Shatt Al- Basra

Laws in place for foreign investment allow 100% foreign ownership of businesses in all sectors except oil and mineral extraction. Also non- Iraqi citizens can now own land for housing projects. Investment partnerships with state-owned enterprises are also possible for foreign companies, at present.

 

 

For more information click HERE. 

OCTAGON CONTRACTING & ENGINEERING

Phone: (+4)021.232.39.20

See on map