By John Lee.

Iraq has reportedly received its 24th and final Korea Aerospace Industries (KAI) T-50IQ Fighting Eagle light fighter and trainer aircraft, which is the Iraqi Air Force variant of the T-50 Golden Eagle/FA-50 Fighting Eagle.

According to Janes, the delivery of the final batch of aircraft marks an end to the six-year procurement process that was launched in December 2013.

(Source: Janes)

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 yard by October 2021.

According to Yonhap, the deal is the fourth construction project that the company has won in Iraq this year, bringing the total of contracts secured since March to $460 million.

(Source: Yonhap)

(Picture: Kim Hyung, President and CEO, Daewoo Engineering and Construction)

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 Company (23.44%). Occidental had a 23.44 percent share in the field, but relinquished it to the state-owned South Oil Company in October 2016.

(Source: Business Korea)

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 won a contract valued at $199.75 to build Al Faw Container Terminal (Phase 1).

(Sources: General Company for Ports of Iraq, Yonhap)

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 water per day.

This will help to increase output at Iraq’s oil fields.

(Sources: Yonhap, Korea Herald)

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 is Korea’s fifth contribution since 2015 to FFS.

Based on priorities identified by the Government of Iraq and local authorities, FFS helps quickly repair essential public infrastructure, boosts the capacity of local government, and provides short-term employment through public works schemes.

“Since Iraq was declared free from ISIL, significant progress across the country has been made – schools and hospitals have reopened, bridges are functioning, and water and electricity networks are up and running,” says UNDP Resident Representative for Iraq, Marta Ruedas.

“But we still have a long way to go – a number of key areas are in desperate need of stabilization efforts. We are very grateful to the Republic of Korea for this generous contribution. It comes at exactly the right time,” she adds.

H.E. the Korean Ambassador to Iraq, Mr. Song Woong-Yeob, said, “The Iraqi people have achieved a great victory in the war against ISIL, and have also exerted enormous efforts to stabilize and rehabilitate the affected area by the violence of the terrorist group. As a responsible member of the international community and a close friend of Iraq, the Republic of Korea is deeply committed to supporting the stabilization and recovery efforts in Iraq, and I firmly believe that our continuing support will contribute to laying the foundation for peace and prosperity in Iraq.”

UNDP’s Funding Facility is implementing over 2,800 projects in key areas of Anbar, Salah al-Din, Diyala, Kirkuk and Ninewa.

(Source: UNDP)

By John Lee.

South Korea’s STX Marine Service has reportedly won a contract to restore and operate diesel-fueled electric power plants in Iraq.

According to Yonhap, the company said the US$500-million deal will see it four 900-megawatt electricity generation units over five years.

It calls for 100 South Korean engineers to be dispatched by STX, along with the hiring of 500 local workers.

The company said work started on 1st July.

(Source: Yonhap)

By John Lee.

South Korea’s STX Marine Service has reportedly won a contract to restore and operate diesel-fueled electric power plants in Iraq.

According to Yonhap, the company said the US$500-million deal will see it four 900-megawatt electricity generation units over five years.

It calls for 100 South Korean engineers to be dispatched by STX, along with the hiring of 500 local workers.

The company said work started on 1st July.

(Source: Yonhap)

By John Lee.

South Korea’s Hanwha Engineering and Construction (E&C) has said it haws received an additional payment of $230 million from the Iraqi government for work carried out in the first half of this year on the Bismayah New City project in Baghdad.

According to the report from Business Korea, the total contract is valued at $10.1 billion, of which Hanwha has so far received a total of $3.47 billion.

The project will see around 100,000 homes built near the capital.

(Source: Business Korea)