| 2008: Iraq signs $5.5 billion Boeing deal for 55 aircraft |
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March 31, 2008 Iraq said on Monday it has signed a contract worth 5.5 billion dollars with Boeing to buy 40 new aircraft, with an option to buy 15 more. "Baghdad had also signed a 400-million-dollar contract with Canadian aircraft manufacturer Bombardier to purchase 10 passenger planes," government spokesman Ali al-Dabbagh said in a statement received by Aswat al-Iraq - Voices of Iraq - (VOI). He pointed out the "delivery of the aircraft would start this year, with final delivery expected by the end of 2019." The spokesman added the government would "issue a $ 5-billion dollar complimentary budget to boost investment and infrastructure projects across Iraqi provinces." He noted "the funding for the complimentary budget was earned from the rise in raw oil prices in the global markets." Iraq has the third largest oil reserve in the world. Its exports, along with those of neighboring Gulf countries, represent the nerve of the global oil market. Source: Voices of Iraq |