Hanwha

Hanwha “Cautious” about resuming Bismayah Project

By John Lee. South Korea’s Hanwha Group is reported to be “cautious” about resuming the construction at the giant Bismayah New City housing project, southeast of Baghdad. The Korea Times quotes an official at the company as saying that if the Iraqi government completes payment of the money owed to Hanwha, the company, “may resume […]

The post Hanwha “Cautious” about resuming Bismayah Project first appeared on Iraq Business News.

Iraqinews December 15, 2022

Hanwha “Abandons” $10bn Bismayah Project

By John Lee. South Korea’s Hanwha Engineering & Construction has reportedly abandoned construction at the giant Bismayah New City housing project near Baghdad. According to Korea Economic Daily, the decision was made having failed to receive payments for years from the Iraqi government. It says the company expects losses of up to $581 million if […]

The post Hanwha “Abandons” $10bn Bismayah Project first appeared on Iraq Business News.

Iraqinews October 12, 2022