By John Lee. The Chairman of the National Investment Commission (NIC), Dr. Haider Mohammed Makiyya, has announced the signing of a pivotal addendum to the contract for the Bismaya Residential City project. The agreement focuses on: Implementing Infrastructure and Social Services: Ensuring essential facilities and public services in the city. Completing 70,560 Housing Units: Resuming […]
By John Lee. Prime Minister Mohammed S. Al-Sudani has officially opened the Iraqi-Korean Critical Care Specialty Hospital at Baghdad Medical City. The newly inaugurated hospital, described as the first of its kind in Iraq, consists of four floors with a capacity of 74 beds, three operating theaters equipped with the latest medical devices, and an […]
By John Lee. In a ceremony at Iraq's giant Al Faw Grand Port in Basra on Thursday, South Korea's Daewoo has handed over five new berths to the Iraqi state. The port is a key part of the planned Development Road project, which will connect the Persian Gulf with the Mediterranean Sea via Iraq and […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq buys air defenses amid specter of regional missile war Amid the prospect of a major escalation of regional missile warfare, Iraq has inked a major deal with South Korea on a state […]
By John Lee. The Iraqi Ministry of Defense has signed a contract with a South Korean company to supply advanced medium-range air defense batteries. It said the new defense system will bolster Iraq's military capabilities, ensuring better protection of its airspace and contributing to regional stability. While the lengthy statement from the Ministry gave no […]
By John Lee. Prime Minister Mohammed S. Al-Sudani chaired a meeting this week to follow up on the progress of Al-Faw Grand Port, attended by representatives from Daewoo, the Korean company, and the Italian consultancy firm, Technital. The Prime Minister's Office said he reviewed the details of the ongoing work on the key projects within […]
By John Lee. Iraqi news agency Basnews has reported that Iraq "urgently requested" eight missile defense systems from South Korea, valued at approximately $2.5 billion. It says the systems are the "M-SAM-II", or "Cheongung II", which it describes as a robust defense system against aircraft, cruise missiles, and ballistic missiles. More here. (Source: Basnews)
By John Lee. A former employee of STX Marine Service has reportedly been indicted for allegedly leaking information about the company's Iraqi power plant management project to a subcontractor in Iraq. The incident appears to relate to the company's $500-million project to restore and operate diesel-fueled electric power plants in Iraq. More here. (Source: Korea […]
By John Lee. Iraq has signed a contract with Ukrainian company Ukrzemresurs to develop the Akkas gas field in Anbar Province. According to a statement from the Ministry of Oil, the goal is to increase national production by an additional 400 million standard cubic feet per day (MMSCFD) of gas within four years, to supply […]
By John Lee. Dr. Abbas Jaber Al-Maliki, the Minister of Agriculture, has chaired a meeting with a delegation from the South Korean company KRE, led by Mr. Kweonk Suk Jan, to discuss smart farming techniques for tomatoes and rice, as well as advanced storage systems. The meeting was attended by Dr. Hussein Al-Wasiti, the Advisor […]
By John Lee. South Korea's Defense Minister, Shin Won-sik, held talks in Seoul on Wednesday with Thabet Mohammed Saeed Al-Abbasi [al-Absi], the Iraqi Defense Minister. Minister Suh evaluated that the foundation of defense and defense industry cooperation between Korea and Iraq has been established through military education exchanges, T-50 trainer aircraft exports, and airbase reconstruction […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani presided over the signing of a memorandum of understanding between the National Investment Commission (NIC) and South Korea's Hanwha to resume work on Bismayah City residential development. The visit on Monday morning included a meeting with residents, where their feedback on provided services was heard, prompting directives […]
