Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
소아쌤

Hanwha E&C collects $239m from Iraq for Bismayah New City project

By Kim Bo-gyung

Published : May 24, 2018 - 15:46

    • Link copied

Hanwha Engineering & Construction has received $230 million from the Iraqi government for the Bismayah New City development project there, the company said Thursday.

The latest payment includes outstanding payments from last year and part of this year’s contract fees.

Hanwha E&C has so far received $3.4 billion out of the $10.1 billion contract.

A bird’s eye view of the ongoing Bismayah New City construction (Hanwha Engineering & Construction) A bird’s eye view of the ongoing Bismayah New City construction (Hanwha Engineering & Construction)

The firm won the construction deal with the Iraqi government in May 2012. Payments were made three times during Iraq’s election period, showing the Iraqi government’s determination to proceed with the project, the company said.

Taking part in Iraq’s Bismayah project, located about 10 kilometers southeast of the capital Baghdad, Hanwha E&C will build houses for about 100,000 households alongside social facilities. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)

More from Headlines