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Iraq’s National Investment Commission (NIC) has received cabinet approval to sign a contract with the joint venture (JV) of Malaysia-based HSS Engineering (HSSE) and Dubai-based Consultant HSS (CHSS), for the Najaf–Karbala Metro project.
According to a statement from the Prime Minister’s office, the Council of Ministers voted to amend Resolution No. 24306 of 2024, granting NIC the authority to issue the investment license and finalise the agreement with companies/consortiums for the project in accordance with applicable laws and regulations.
The statement didn’t elaborate on the contract details, but the consortium had previously secured a contract in July 2024 to provide project management and construction supervision services for the $17.5 billion Baghdad Metro project.
Under that agreement, fees were set at 0.6 percent of estimated construction costs for the evaluation phase and 1.2 percent for the supervision phase.
The Najaf-Karbala metro route extends for 90 kilometres with four main stations.
HSSE is a wholly owned subsidiary of Malaysia stock exchange-listed HEB (HSS Engineers Berhad) and holds a 50 percent stake in the Dubai-based engineering consultancy JV.
(Writing by Majda Muhsen; Editing by Anoop Menon)
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