Park Jin-hai primarily focuses on K-dramas, entertainment shows and actor interviews. Beyond that, she also pens articles covering the broader arts scene, with a particular emphasis on classical music, dance and various aspects of lifestyle. Since joining The Korea Times in 2013, she has made significant contributions in the realms of hallyu (Korean wave), industry news and international affairs.
Hanwha wins additional $2.12 billion construction deal in Iraq
Hanwha Engineering & Construction CEO Lee Geun-po, left, shakes hands with Dr. Sami Al Araji, Iraq’s National Investment Commission chairman, after the two signed a $2.12 billion deal to build infrastructure in Bismayah, Iraq, Sunday. The firm bagged the deal, following the Bismayah New City Project it won in 2012. / Courtesy of Hanwha Group
By Park Jin-hai
By Park Jin-hai
Hanwha Group, the nation’s 10th-largest conglomerate, said Monday its building affiliate has clinched a $2.12 billion order to build infrastructure for a new city in Iraq.
Under the agreement with Iraq's National Investment Commission (NIC), Hanwha Engineering & Construction will build the social infrastructure ― including some 300 schools, hospitals, police stations and firehouses ― in Bismayah in southeast Baghdad.
This follows from a previous deal the company made in Iraq in 2012, when Hanwha Engineering won the $8 billion Bismayah New City Project, the biggest urban development project in Iraq.
The Bismayah construction project is expected to be completed in 2019, according the company.
“Hanwha Engineering has won over $10 billion worth of orders from the Iraqi project alone, taking the lead in rebuilding the war-torn nation,” said a company official in a statement.
Kim Seung-yeon, Hanwha Group chairman, has been sparing no effort to make the project a success. Since the construction started, despite the sporadic civil wars in Iraq, Kim has visited the Middle Eastern country three times.
Dr. Sami R. Al Araji, the NIC chairman, was quoted in a statement saying he thanked the company’s workers who faithfully honored the construction project instead of fleeing the nation.
Based on mutual trust built during the current construction projects Hanwha Engineering will be well positioned for more business opportunities in Iraq, which plans to build more new cities like Bismayah.