By John Lee. The Iraqi Cabinet has directed Al-Rafidain Bank, Al-Rasheed Bank, and the Trade Bank of Iraq (TBI) to pay $100 million to South Korea's Hanwha Engineering and Construction Company, which is implementing the Bismayah City residential project (pictured). It also agreed to reduce the minimum advance payment for buying housing units at the […]
Tag Archives | South Korea
Tags: Bismaya, Bismayah, featured, Hanwha, mn, Rafidain Bank, Rasheed Bank, South Korea, Trade Bank of Iraq (TBI)
Alstom signs Letter of Intent for Baghdad Elevated Train
Alstom and the Iraqi Ministry of Transport sign a Letter of Intent for the implementation of the Baghdad Elevated Train An Alstom-led Consortium, together with its partner Hyundai Engineering & Construction, have signed a Letter of Intent with the Iraqi Ministry of Transport to define a framework for all the appropriate steps to accelerate the […]
Tags: Alstom, Baghdad, Baghdad Elevated Train (BET), Baghdad Metro, Baghdad Monorail, featured, France, Hyundai, korea, mn, monorail, South Korea
Baghdad Metro: Negotiations to Start with Alstom, Hyundai
By Editor on 15th October 2020 in Construction & Engineering In Iraq, Iraq Public Works News, Iraq Transportation News
By John Lee. The Iraqi Cabinet has authorised the Ministry of Transport to enter into negotiations with a consortium led by France's Alstom and Hyundai of South Korea, regarding the Baghdad suspension railway project. The result of the negotiates are to be submitted to Cabinet for approval. (Source: Govt of Iraq)
Tags: Alstom, Baghdad, Baghdad Metro, Baghdad Monorail, featured, France, Hyundai, korea, mn, monorail, Rail, South Korea
Al-Faw Port Project's Endless Delays
By Azhar Al-Ruabie for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq's al-Faw port project's endless delays Although 10 years have passed since the Iraqi government started laying the groundwork for the al-Faw grand port in southern Iraq, the project is still far […]
300MW Power Station opened near Erbil
By John Lee. A new 300-megawatt steam power plant has been recently opened in Khabat, on the outskirts of Erbil. The plant, built in partnership with South Korean companies POSCO and the Korean National Oil Company (KNOC), adds 10 percent to the region's electricity capacity. Speaking at the opening ceremony, KRG Prime Minister Masrour Barzani […]
Tags: Electricity In Iraq, featured, Khabat, Khabat power station, korea, Korean National Oil Company (KNOC), KRG, Kurdistan News, mn, POSCO, South Korea
UNICEF, Korea to provide Water and Sanitation in Iraq
UNICEF partners with the Republic of Korea to provide water and sanitation services for the most vulnerable children in Iraq Approximately 3 million children and young people across Iraq need humanitarian support as they try to recover from years of conflict and violence. The Republic of Korea has partnered with UNICEF and contributed US$1 million […]
Daewoo Wins $86m Iraq Order
By John Lee. South Korea’s Daewoo Engineering & Construction has reportedly won an $86 million order to build a prefabrication yard for a tunnel project at the new Al Faw Grand Port in Basra. Under the deal with the General Company for Ports of Iraq (GCPI), Daewoo will complete the Khor Al-Zubair immersed tunnel prefabrication […]
Tags: Al Faw Grand Port, Basra News, Daewoo, featured, General Company of Iraqi Ports, korea, mn, Ports, Roads, South Korea
Zubair Oil Production hits 500k bpd
By John Lee. Zubair oilfield has reportedly reached a production level of 500,000 barrels of crude oil per day (bpd). According to Business Korea, Kogas made the announcement on Thursday, adding that its "second-stage goal" is 700,000 bpd. The project is being developed by Eni (32.81%), Kogas (18.75%), Maysan Oil Company (25%), and South Oil […]
Tags: featured, Iraq Oil Production News, KOGAS Iraq News, korea, Maysan Oil Company (MOC), mn, Occidental Petroleum, South Korea, South Oil Company (SOC), Zubair
Daewoo Wins $70m Iraq Order
By John Lee. South Korea's Daewoo Engineering & Construction has won a US$70.35 million order to build entrance roads for the new Al Faw Grand Port in Basra. Under the deal with the General Company for Ports of Iraq (GCPI), Daewoo will complete the 14.5 kilometer-long road by May 2021. Earlier this year, the company […]
Tags: Al Faw Grand Port, Basra News, Daewoo, featured, General Company of Iraqi Ports, korea, mn, Ports, Roads, South Korea
Hyundai wins $2.4bn Desalination Contract
By John Lee. Hyundai Engineering & Construction has reportedly won a $2.45-billion deal to build a seawater processing facility in Iraq. South Korean media report that the company signed a letter of intent with Basra Oil Company (BOC) on Wednesday for the 49-month project, which will be capable of supplying 5 million barrels of fresh […]
Tags: Al Basra, Basra News, Basra Oil Company (BOC), desalination, featured, Hyundai, Iraq Oil Production News, korea, mn, South Korea
Iraqi Air Force receives more Korean Fighter Jets
By John Lee. The Iraqi Air Force has received another six new T-50 fighter jets under a contract with Korea Aerospace Industries (KAI). According to previously-released information, Iraq's T-50 fleet is planned to grow to 24 by early next year. (Source: Iraqi Air Force)
Korean Support helps Stabilize Newly Liberated Areas
The Government of the Republic of Korea and the United Nations Development Programme (UNDP) signed partnership agreement today for USD 5M million to support stabilization and recovery in newly liberated areas in Iraq. Korea’s contribution will be channelled through UNDP’s Funding Facility for Stabilization (FFS) which finances fast-track initiatives in areas retaken from ISIL. This […]