The latest Korea – Iraq Business News – housing, construction, company Kogas, & more – brought to you by Iraq Business News
By John Lee. South Korea's STX Heavy Industries has said it has won a $150-million order to construct and operate a power plant in Amara, in Missan province. Under the turnkey contract signed with Iraq's Ministry of Electricity, STX will take responsibility for the operation and maintenance of the plant for a year after its […]
By John Lee. Korea’s state-run Korea Gas Corporation (KOGAS) has won a $127m contract to build a 110-kilometer pipeline linking the Iraqi cities of Kirkuk and Baiji. The company said it will sign the contract with Iraq’s state-run Oil Pipelines Company (OPC) this month. KOGAS was selected as the preferred builder in a process that had eight […]
Prime Minister Nechirvan Barzani today hosted a groundbreaking ceremony for a new international airport in Duhok. Duhok International Airport will be the third airport in the Kurdistan Region. After its completion in 2015, travellers will have direct international access to each of the Region’s three provinces. Speaking at the event, the Prime Minister highlighted the […]
The Head of the Department of Foreign Relations, Minister Falah Mustafa, this week welcomed the arrival of new Korean, Dutch and French diplomats posted to the Kurdistan Region. “We are very pleased at the level of international representation that we now see in the Kurdistan Region,” Minister Mustafa said. “The international presence here represents the […]
Outgoing Consul General Joo Joong-Chul met on Monday with the Head of the KRG's Department of Foreign Relations, Minister Falah Mustafa, as he prepares to depart for his next assignment at the Republic of Korea’s embassy in Baghdad. Minister Mustafa thanked Mr Joong-Chul for his nation’s continued support and for his personal contribution during his […]
By John Lee. An MP and member of parliament's the Economic Committee has described the giant Basmaya [Bismayah] City housing project as "failed", and says "the National Investment Commission (NIC) will not be able to implement it." Azez al-Mayahi, of the Iraqiyya party, demanded that the NIC clarify that status of the project, according to […]
By John Lee. The KRG has signed contracts worth $700 million (840 billion Iraqi dinars) with South Korea’s Posco Engineering & Construction Company and the Korea National Oil Company (KNOC) to build a power station and tranformer. Posco will build the plants and KNOC will finance the projects in line with terms of its 2008 […]
The Director General of the Iraqi Automobile Company (State Company for Automotive Industry - SCAI?) has said that the company is in negotiation with the Japanese company Nissan regarding a possible partnership to manufacture Nissan cars in Iraq. According to a report from Aswat al-Iraq, he is also in discussions with Korea's Kia Motors. The […]
Iraq's Minister for Electricity, Kareem Aftan al-Jumaili, has opened a new 200MW power station in Missan province, according to a report from AKnews. The new diesel-fueled station, to the north of Amara, was built by the South Korean company STX at a reported cost of $220 million (260 billion Iraqi dinars). According to a spokesperson for […]
The National Investment Commission (NIC) has opened a center for the Bismayah New City project at the Baghdad International Fair. It will receive citizens registered and wishing to register for housing units in the project for the three sizes of housing unit: 100 m², 120 m², and 140 m². NIC Chairman, Dr. Sami Raouf al-Araji […]
According to a report from Bloomberg, Iraq has signed the contract with South Korea’s Hanwha Engineering & Construction to build 100,000 residential units in Baghdad. Salah Abdul Razzaq, Baghdad’s governor, said more than 30,000 people are registered for the units so far, adding that the project will secure 100,000 jobs. Previous reports put the value […]
Reuters quotes local media reports in Korea as saying that Ssangyong Engineering & Construction has won a $250 million deal to build a water supply network in Iraq. The Korean Stock Exchange reportedly asked the company Ssangyong to submit a filing to clarify the report. (Source: Reuters)
