It’s incredible how such an amazing day of news yesterday…. financial news at that, has generated so much chatter and rumors being posted from so many. Is it a coincidence, or are those who are connected to “sources” finally hearing the real deal is coming down the pipe? I certainly don’t know for sure, but I have discovered a few fantastic articles that give me tremendous hope about my investment in Iraq. The best part about these articles is that they are ALL discussing BIG BUCKS being dropped in Iraq… wish I could join the fray!
Check these investment articles out…
Article: Baghdad Plans 75,000 Apartments to Modernize Slum
Excerpts: “The city of Baghdad asked foreign companies on Thursday to sign up for a project to design and build 75,000 apartments, the first phase of a $10 billion plan to rebuild the Iraqi capital's sprawling Sadr City slum. The entire 56 sq km (22 sq mile) project, to be built over 10 years, includes 150,000 apartments, stores, service buildings, a medical complex, a university and entertainment centers. "It will be a part of Baghdad city but with new, modern construction, not low-cost construction," Baghdad mayor Saber al-Issawi said. "We will build it in a distinctive style." Iraq is trying to line up at least $30 billion in housing and commercial development projects over the next decade as Baghdad tries to rebuild after years of war.”
Link: http://news.alibaba.com/article/detail/markets/100236331-1-baghdad-plans-75%252C000-apartments-modernise.html
Tidbit: Two things must be in place to support such an undertaking: SECURITY to protect such a massive investment from destruction and loss, and a legitimate CURRENCY to pay back any loan or investment. I know no company enters an investment without an exit strategy and legitimate source of income. Either requires being paid in a currency they can use. Why approach foreign companies if you can’t give them something in return that they can use to justify their risk and investment?
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Article: Noor Capital to Build $100m Iraq Hotel (Reuters)
Excerpts: “Abu Dhabi investment company Noor Capital will build a $100 million five-star hotel apartment project in Karbala, Iraq, with UK hospitality developer Range Hospitality..”… “The transaction is in line with Noor Capital’s governing philosophy to promote hospitality projects within the Middle East and in particular within the religious tourism sector,”
Link: http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/business/2010/January/business_January463.xml§ion=business&col
Tidbit: The question that comes to my mind reading this is, why would a company that is obviously extremely successful in promoting, “hospitality projects within the Middle East”, risk $100 million in a country with nothing but Iraqi Dinars paying for hotel stays? Such a company has a plan and is confident in “The Plan”… IMO.
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Article: Eni-led Group Inks Oil Deal in Iraq
Excerpts: “Italian energy giant Eni and its consortium partners announced Friday they signed an agreement to redevelop the Zubair oil field in southern Iraq.”… “The consortium said it plans to increase production at the southern oil field by more than 1 million barrels to 1.2 million barrels of oil per day within the next six years.” A consortium led by Italian oil company ENI early Friday finalized a 20-year contract to develop the Zubair oilfield in southern Iraq, the company said in a statement. The consortium, which will invest 20 billion dollars (14 billion euros), groups ENI, with a stake of 32.81 percent, with Occidental Petroleum Corp. (23.44 percent), Korea Gas Corp. (18.75 percent), and Iraqi state oil company Missan (25 percent).”
Link: http://news.yahoo.com/s/afp/20100122/wl_mideast_afp/italyoileniiraq_20100122130148
http://www.upi.com/Science_News/Resource-Wars/2010/01/22/Eni-led-group-inks-oil-deal-in-Iraq/UPI-44461264178353/
Tidbit: They, like me, feel Iraq’s a good investment long-term. I feel each oil deal “inked” adds another layer of security for the currency of Iraq. Furthermore, each deal secures a value to said currency. Why? A country’s currency is ultimately tied to the potential and current GDP of its host. Iraq’s potential, Iraq’s reserves, and Iraq’s ultimate health as a nation is what will provide the confidence needed to pull the trigger on the RV. Are they ready? We’re watching them prepare...
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Article: Oil Sign With a Coalition of Three International Companies, The Final Contract to Develop the Field of West of Basra, Zubair
Excerpts: “Zubair holds an estimated 4 billion barrels of oil and ranks among the largest discovered fields in the world.”… “A source in the ministry of the National Iraqi News Agency / NINA /: "The representatives of the coalition companies from Italy and the United States and South Korea today signed the final contract to develop the field."
Link: http://translate.googleusercontent.com/translate_c?hl=en&u=http://www.alforattv.net/index.php%3Fshow%3Dnews%26action%3Darticle%26id%3D43173&prev=/language_tools&rurl=translate.google.com&usg=ALkJrhjT6MZj39i-MzdnlPBScDXA90fkgA
Tidbit: The “final contract” signed of those awarded? The Arablish is getting to me. LOL! Either way, they continue to press forward. Great news!
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Article: Iraq Is Suddenly an Opportunity
Excerpts: “Compared to what we've seen before—and what might have happened—the overall story is remarkably positive. For the markets, Iraq is suddenly an opportunity. Institutions are becoming legitimate (even with the unresolved Kurdish issue), the army is starting to function, and most important, political leaders from all communities are beginning to recognize the value of Iraq's tremendous natural resource base from which all can benefit if they make compromises to maintain the country's stability. For all the basic governance problems, there's very little chance of Iraq becoming a failed state at this point. As recently as a year ago, that constituted a meaningful risk."
Link: Written by Shawn Baldwin for Bloomberg
Tidbit: How the west was won… over! :)
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Whether it be stories talking about money pouring into Iraq for investment (remember the first rule of investing, you don’t make your money based on how high you sell a stock, but on where you buy it, thus the reason for world-renowned companies’ willingness to risk huge money investing in Iraq... NOW), or money being harvested through the efforts of the world’s largest oil companies for Iraq, it’s clear every major country on this planet has a vested and concerned interest in their success. Wow, what an amazing time in this world’s history! Surely, we are witnessing fulfillment of prophecy. Gratefully, I watch…
As always… Go Dinar!
Dinar Daddy
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