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FINANCIAL NEWS
30pct of Iraq’s new city project completed
06 Jan 2017
(MENAFN) Korean firm Hanwha Engineering and Construction proclaimed that work on Bismayah City in Iraq was progressing well with almost 30 percent of the project completed.
Moreover, 18.3mn square meters development located 10 km southeast of capital Baghdad will boast 100.000 houses and almost 300 institutions, involving schools and hospitals.
The new city will contain 8 towns, while almost 5.000 households have moved into the first town, which had clinched USD8bn deal from the Iraqi government in 2012.
In addition, the two sides agreed an extra deal to build social infrastructure for USD2.1bn in April 2015, taking the value of the total deal toUSD10.1bn.
M
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