Iraq’s Kurdistan Signs Power Agreements With KNOC, Posco

Iraq’s semi-autonomous Kurdistan regional government signed contracts with South Korea’s Posco Engineering & Construction Company Ltd. and Korea National Oil Corp. to build two power plants for $700 million.

Posco will build the plants and KNOC will finance the projects in line with terms of its 2008 oil-exploration agreement with the Kurdish northern region of Iraq, according to a statement on the regional government’s website.

The projects include the construction of a 300-megawatt steam power-generation plant in the Erbil region within three to six months and a 400-kilovolt power transformer in Sulaimaniya province within eight months, according to the statement, which was dated yesterday.

To contact the reporter on this story: Nayla Razzouk in Dubai at

To contact the editor responsible for this story: Stephen Voss at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.