Korea Business News Agency - NSP NEWS AGENCY.

[부산=NSP통신] 보티민트 인턴기자 = A Press Conference about last year’s contract about Iraq Bismayah New City construction work was held by Hanwha Construction on 10th January in Plaza Hotel, Seoul. In this Conference, all the news from the actual locality was shared directly by the Chairman of the Iraq National Investment Commission (NIC).

In this Conference, Iraq NIC’s Chairman Dr. Sami R. Al-Araji said, “Iraq’s NIC and Hanwha Group signed a 8 billion US dollar-scale Bismayah New City Construction formal contract on 30th May last year. The reason we chose Hanwha Group is that we recognize Hanwha Group’s excellent record and capacity among Korean Enterprises.”

Continuing, he said, “The Iraqi Government has provided a $776 million USD advance received by 13th September last year and Hanwha is now handling the construction according to the plan.”

Chairman Sami R. Al-Araji explained about the Bismayah New City project, “We are building a base camp for 26,000 people to stay during the Bismayah New City Construction and we expect in the coming March, Hanwha’s whole project group will be able to move in there.”

Chairman Sami R. Al-Araji emphasized, “18.3 million square meter-sized Bismayah New City will have 8 districts, 58 blocks with 839 buildings and a total of 100,000 housing units are supposed to be built.”

Chairman Sami R. Al-Araji also explained about the construction progress, “In February this year, a large scale Plant Factory construction will begin. In March, a water treatment plant and sewage treatment plant will be started and regular housing construction is scheduled to begin in December.”

New City development work is supposed to be completed in 2019, after 7 years. Chairman Sami R. Al-Araji also explained about additional rehabilitation work.

Chairman Sami R. Al-Araji said, ‘NIC and Hanwha are discussing additional rehabilitation works such as a power plant, oil refinery, solar power plants, a new city, and more. We welcome South Korean Enterprises that are professional and we can trust.”

Meanwhile, Bismayah New City is located in the Bismayah area, about 10 kilometers southeast of Bagdad. The contracted price of Hanwha Construction is $7.75 billion USD (Escalation clauses applied to actual cost of $8 billion USD)

보티민트 NSP통신 인턴기자, mint2410@nspna.com
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