By John Lee. Korea Aerospace Industries (KAI) has announced a contract worth $360 million from the Iraqi Air Force. Under the deal, KAI will provide logistics support, education and training for the T-50IQ aircraft over a three-year period, starting January 2022. The T-50IQ Fighting Eagle light fighter and trainer aircraft is the Iraqi Air Force […]
The Republic of Korea supports vulnerable families in Iraq to put food on the table The United Nations World Food Programme (WFP) has received a US$1 million contribution from the Republic of Korea to support WFP's food assistance for up to 327,000 internally displaced people (IDPs) and Syrian refugees until the end of the year, […]
By John Lee. The Iraqi cabinet has agreed to the authorization of a contract with a consortium of companies for a major seawater desalination project in Basra. A statement from the cabinet named the companies as Samsung, Makinasinayi (sic), Biwater, Wood Group and Al-Rida Group. The work will be based on a study submitted by […]
The Country Director of Korea International Cooperation Agency (KOICA) in Iraq, Mr Lee Dong Hyun and UNFPA Representative to Iraq, Dr Rita Columbia, signed a two-year agreement of 3 million dollars, in partnership with the Ministry of Health and Environment and the Ministry of Labour and Social Affairs. This new grant will go towards assisting […]
IOM, KOICA Partner to Support Local Economic Recovery in Baghdad, Ninewa and Kirkuk Decades of conflict in Iraq coupled with the COVID-19 outbreak have severely affected human capital, intensified poverty, and undermined individuals' ability to find decent and sustainable jobs. The consequences of conflicts are especially severe for vulnerable returnees, internally displaced persons (IDPs) and […]
By John Lee. Iraq is reportedly planning to build eight nuclear power stations to provide much-needed electricity. According to Bloomberg, the $40-billion scheme would provide 11 GW of power to the Iraqi grid. Click here to read the full article. (Source: Bloomberg)
By John Lee. Prime Minister Mustafa Al-Kadhimi has laid the foundation stone for the next phase of the giant Grand Faw Port project. This phase consists of: The construction of five berths for container ships; Creating the container storage and handling yard, and digging the inland shipping channel; Building the external navigation channel; Building a […]
Iraq receives the first delivery of COVID-19 vaccines through the COVAX Facility Amid a global shortage of COVID-19 vaccines, Iraq has finally received 336 000 doses of AstraZeneca COVID-19 vaccine through the COVAX Facility, a partnership co-led by Coalition for Epidemic Preparedness Innovations (CEPI), Gavi - The Vaccine Alliance and the World Health Organization (WHO), […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Daewoo fulfills Iraq's Faw Port despite obstacles The head of Iraqi Ports in the Ministry of Transportation signed a contract Dec. 30 with the South Korean company Daewoo […]
By John Lee. Iraq's Ministry of Transport has signed a contract with Korea's Daewoo to complete five infrastructure projects at the Grand Faw port. The contract includes the construction of a 14-kilometer navigation channel extending to the sea, the basin for the ships that will dock at the port, and an underwater tunnel, which is […]
By John Lee. The Iraqi cabinet has authorised the Director General of the General Company of Iraqi Ports to sign a contract with the South Korean company Daewoo to construct the first phase of the Al-Faw Great Port project in Basra. The project will be supervised by the Italian consulting company Technital. Reuters reports that […]
The Ministry of Foreign Affairs of the Republic of Korea (MoFA) is supporting the United Nations Development Programme (UNDP) with an additional USD 5M million to support stabilization activities in areas liberated from the Islamic State of Iraq and the Levant (ISIL) in Iraq. The Republic of Korea's contribution will be channeled through UNDP's Funding […]
