Hanwha Group said it would soon sign a $7.75 billion contract to build 100,000 homes in a Baghdad suburb, in what it called the largest-ever overseas construction deal for a South Korean company. Hanwha and Iraq's investment commission will sign a final agreement for the Besmaya redevelopment project as early as this month after the cabinet approved it, a group spokesman told AFP. Group Chairman Kim Seung-Youn will take part in the signing ceremony, he said. Hanwha Engineering and Construction will build 100,000 new homes and lay infrastructure such as roads, water supply and sewer systems in the project at Besmaya, 10 kilometres (six miles) southeast of Baghdad, over the next seven years. Iraq's investment commission chief Sami al-Araji has said new housing was Iraq's top priority. The country is seeking to build one million new homes nationwide in the coming years. Hanwha said the contract would help open the door to future construction deals in the war-torn country.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor