Click here to close now.

SYS-CON MEDIA Authors: Carmen Gonzalez, Liz McMillan, Kevin Jackson, Peter Silva, Greg Wind

News Feed Item

Kufan Group and Northern Gulf Partners Launch Transformative Logistics and Business Investment in Iraq

- Basra Government awards investment license to Northern Gulf Partners and Kufan Group for transformation of former military facility into a state-of-the-art business and logistics center.

BASRA, Iraq, January 3, 2011 /PRNewswire/ -- In an historic ceremony today Dr. Shiltagh Aboud, the governor of Basra province, officially turned over control of the former U.S. military facility known as Camp Bucca to Iraq investment firm Northern Gulf Partners and Iraqi construction firm Kufan Group, who will transform the site into the "Basra Logistics City", a state-of-the-art business and logistics hub addressing the needs of the oil sector as well as, construction, and retail clients in the rapidly growing Iraq economy.

Basra Logistics City is poised to become the preeminent business location in Iraq. Sitting on 300 hecatres (740 acres) inside the perimeter of Camp Bucca, the development lies just 2km from Iraq's primary port of Umm Qasr, 20km from the main border crossing at Safwan, and 40km south of downtown Basra. 7 of Iraq's 9 supergiant oil fields lie within 150km of the Basra Logistics City, making it an excellent staging ground for oilfield supplies. Surrounded by a 15-ft berm and dozens of guard towers, the site benefits from approximately $100 million worth of existing infrastructure including warehouses, roads, advanced water treatment and sewer systems, electricity, a recreational facility, a helicopter landing pad, 1,000 modern and well maintained housing units, and more.

Said Kufan Group founder and CEO Maythem al-Asadi, "As an Iraqi company, we are very pleased to see this project go forward because of the benefits it will bring in terms of jobs and economic development in Iraq. We are working closely with the Basra government as well as the town of Umm Qasr to ensure that this project is a success for all involved."

Northern Gulf Partners was represented at the event by founding partner, Bartle Bull, who said, "This is an extremely important project for Iraq and for companies seeking to do business here. Basra Logistics City offers a secure, convenient, and hassle-free way for companies to set up and get to work in the booming Iraq market. With a host of amenities and easy access, the Basra Logistics City allows companies to focus on their core business and the immense opportunities here in Iraq. The local government here in Basra truly has a vision for the region's development, and their decision to go ahead with the Basra Logistics City is a testament to their commitment to development in Basra and in Iraq."

The project bridges several critical gaps in the Iraqi economy. With Iraq's main port of Umm Qasr already struggling to manage the volume of commercial cargo entering the country, Basra Logistics City provides urgently needed support for Iraq's intermodal commerce, improving logistics and lowering the cost of doing business. The project also provides critical facilities for operations, HSE and other training, and storage, which are virtually non-existent in Basra but are badly needed by oil and oil services companies working in conjunction with Iraq's $150 billion oil development program.

With the handover, NGP/Kufan will open the existing facilities to logistics and storage customers, and will also commence the $245 million first phase of development, which will include additional retail and commercial office and storage space.

About Kufan Group

Kufan Group is Iraq's leading high-specification construction contractor. Founded in 2004 as one of the first private sector Iraqi firms in this field, the firm has grown into the leading Iraqi provider of high quality engineering, construction, and technology solutions, with complementary capabilities in engineering and construction, information technology services, telecommunications, and oilfield services. Kufan has completed or commenced fuel storage, telecommunications, sewerage, and other projects in Iraq totaling over $200 million in Iraq for such demanding clients as the US Army Corps of Engineers, the Iraqi Air Force, the Ministry of the Interior, the Ministry of Communications, CH2M Hill, and others-including pioneering experience with construction and design projects in Camp Bucca itself. For further information please visit http://www.kufan-group.com.

About Northern Gulf Partners

Northern Gulf Partners is the leading Iraq investment firm, with offices in Baghdad and New York. NGP provides world-class standards of investment professionalism in Iraq, linking the best global capital to the finest opportunities in this remarkably promising economy. NGP's management has been present in Baghdad and throughout Iraq since early 2003. The firm's clients, partners and counterparties are the country's leading business families and most dynamic entrepreneurs.

NGP's investment philosophy focuses rigorously on three variables: exceptional management, sustainable competitive advantage, and strong market growth potential. The Firm's asset management investment activities include private equity, alternative long-biased asset management in Iraqi and Iraq-related public securities, and real estate. NGP also provides investment banking advisory services, including corporate finance, mergers and acquisitions, privatization advice and market entry. For further information please visit http://www.northerngp.com.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting and anomaly detection (SPM), log management and analytics (Logsene), and search analytics (SSA). We also provide Search and Big Data consulting services and offer 24/7 production support for Solr and Elasticsearch.
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, will explain the best practices of continuous testing at high scale, which is r...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Countless business models have spawned from the IaaS industry. Resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his General Session at 16th Cloud Expo, Phil Jackson, Lead Developer Advocate at SoftLayer, will break down what we've got to work with and discuss the benefits and pitfalls to discover how we can best use them t...
DevOps is all the rage these days and with good reason as it promises to reduce the time-to-market for new applications. It also promises to improve change management, allowing teams to deploy changes to their applications quickly and efficiently. However, DevOps isn’t something you buy, install, or implement; rather it is the symptom of an appropriate organizational system. In his session at DevOps Summit, Mark Thiele, EVP, Data Center Technologies at SUPERNAP International, will discuss how ...
SYS-CON Events announced today Arista Networks will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Arista Networks was founded to deliver software-driven cloud networking solutions for large data center and computing environments. Arista’s award-winning 10/40/100GbE switches redefine scalability, robustness, and price-performance, with over 3,000 customers and more than three million cloud networking ports depl...
Hosted PaaS providers have given independent developers and startups huge advantages in efficiency and reduced time-to-market over their more process-bound counterparts in enterprises. Software frameworks are now available that allow enterprise IT departments to provide these same advantages for developers in their own organization. In his workshop session at DevOps Summit, Troy Topnik, ActiveState’s Technical Product Manager, will show how on-prem or cloud-hosted Private PaaS can enable organ...
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on T...
Plutora provides enterprise release management and test environment SaaS solutions to clients in North America, Europe and Asia Pacific. Leading companies across a variety of industries, including financial services, telecommunications, retail, pharmaceutical and media, rely on Plutora's SaaS solutions to orchestrate releases and environments faster and with integrity. Products include Plutora Release Manager, Plutora Test Environment Manager and Plutora Deployment Manager.
SYS-CON Events announced today that SafeLogic has been named “Bag Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SafeLogic provides security products for applications in mobile and server/appliance environments. SafeLogic’s flagship product CryptoComply is a FIPS 140-2 validated cryptographic engine designed to secure data on servers, workstations, appliances, mobile devices, and in the Cloud....
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Ras...
Modern Systems announced completion of a successful project with its new Rapid Program Modernization (eavRPMa"c) software. The eavRPMa"c technology architecturally transforms legacy applications, enabling faster feature development and reducing time-to-market for critical software updates. Working with Modern Systems, the University of California at Santa Barbara (UCSB) leveraged eavRPMa"c to transform its Student Information System from Software AG's Natural syntax to a modern application lev...
When it comes to building applications, one database definitely does not fit all. Traditional SQL databases are great for storing highly structured, normalized data and performing analytics and reporting. NoSQL has attracted developers with its awesome flexibility, and JSON-centric document stores like Cloudant make web developers incredibly productive by offering a JavaScript environment from end-to-end. Recent Big Data challenges have driven the need for a distributed approach to analytics e...
SYS-CON Events announced today that the DevOps Institute has been named “Association Sponsor” of SYS-CON's DevOps Summit, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. The DevOps Institute provides enterprise level training and certification. Working with thought leaders from the DevOps community, the IT Service Management field and the IT training market, the DevOps Institute is setting the standard in quality for DevOps education and training.