Posco to build $700m of Kurdish power plants
South Korean firm to build plants in Erbil and Sulaimaniya province
Posco will be responsible for building the plants, which will be financed by Korea National Oil.
The two plants being built are a 300MW steam-powered generating plant in Erbil and a 400kV power transformer at Sulaimaniya province.
Both will be completed within eight months.
Kurdistan's regional government also recently recommenced exporting oil to Iraq's federal government as "a confidence-building measure aimed at solving the ongoing oil and gas issues in Iraq".
The region is currently exporting 100,000 barrels of oil per day, but said it would increase this to 200,000 if regular payments from the federal government were forthcoming.