Hanwha Group, the 10th biggest conglomerate in Iraq, confirmed that its building affiliate was the lucky one to received the $2.12 billion construction project for building foundation for Iraq’s new city.
Hanwha Engineering & Construction will construct the social base under the conformity with Iraq’s National Investment Commission (NIC). The project includes the 300 schools, police headquarters, hospitals, and firehouses within Bismayah located in southeast Baghdad.
This takes after from a past arrangement that the company had made in Iraq last 2012, when Hanwha Engineering won the $8 billion Bismayah New City Project, which was the greatest city improvement in the country. The Bismayah construction venture is expected to be finished in 2019, as agreed with the company.
In similar statement, the company said, “Hanwha Engineering has won over $10 billion worth of orders from the Iraqi project alone, taking the lead in rebuilding the war-torn nation.”
Hanwha Group executive Kim Seung-yeon has been saving no push to make the project a win. He has gone to the Middle Eastern nation three times since the development began, regardless of the erratic civil wars in Iraq.
The NIC executive Dr. Sami R. Al Araji, was cited in an announcement saying he expressed gratitude to the workers of the company who steadfastly regarded the development project as opposed to escaping the country.
In view of common trust assembled amid the current development ventures Hanwha Engineering will be very much situated for more business open opportunities in the country of Iraq, which plans to construct more new urban areas like Bismayah.
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