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Iraq seeks funding from Russian and Korean partners to build nuclear reactors 9th June, 2021 The Iraqi Radioactive Resources Regulatory Commission announced, on Wednesday, June 9, 2021, that Iraq intends to build 8 reactors capable of producing about 11 gigawatts. The head of the authority, Kamal Hussein Latif, said in a statement to media outlets followed by "The Obelisk" that the authority is seeking to obtain funding from potential partners for the $40 billion plan and pay the costs over a period of 20 years. He added that the authority discussed cooperation with Russian and South Korean officials, and in the event of building the planned number of power plants, this will not be enough to cover future consumption because the country is already facing a gap of 10 gigawatts between capacity and demand and expects to need an additional 14 gigawatts this decade. He pointed out that the Cabinet is reviewing an agreement with the Russian company Rosatom to cooperate in building reactors, as South Korean officials said they wanted to help build the stations and offered the Iraqis a tour of reactors in the United Arab Emirates operated by the Korea Electric Power Company. He explained that the nuclear authority also spoke with French and US officials about the plan. The history of the Iraqi nuclear program dates back to the mid-1950s, when initial understandings began with the Soviet Union to build a reactor for peaceful purposes. It is noteworthy that the Iraqi Authority for the Control of Radioactive Sources had confirmed, on the 3rd of last November, that 5 countries are candidates to establish a new reactor in Iraq, namely the United States of America, Russia, Argentina, South Korea and France. LINK
