Tag Archives | Bismaya

Iran-Iraq Pipeline comes with Major Environmental Costs

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  On July 21, farmers complained about a gas pipeline dredging their farmlands. The pipeline carries gas from Iran to Baghdad through Bismayah, which is located in southeast Baghdad. […]

Hanwha receives $560m for Bismaya Project

Korean firm Hanwha Engineering and Construction received about $560 million in construction fees last week from the Iraqi government for its ongoing new city project, the company said on Monday. The company has been building the 1,830-hectare new city Bismayah, 10 kilometers southeast of Baghdad, an $8-billion contract signed in 2012. The two parties agreed […]

GE signs $520m Iraq Deal

GE has signed a multiyear agreement in Iraq with Mass Energy Group Holding. The $520-million contract includes operation and maintenance services as well as GE’s advanced digital industrial solutions for the 3-gigawatt gas-fired Basmaya [Bismaya] Power Plant, 40 kilometers east of Baghdad. This contract represents a continuing effort between Mass Energy Group Holding, the Iraqi […]

Al-Abadi meets Delegation from Hanwha

Prime Minister Dr. Haider Al-Abadi received in his office on Sunday a delegation from the Korean company Hanwha which is implementing the Bismaya residential project. The delegation gave a presentation on progress reached on the ground for the project, where the first three thousand residential units to best standards have been completed in full, with […]

Korean Firm wins $146m Contract at Bismaya

By John Lee. South Korea’s LSIS said on Tuesday that it has signed a deal to supply electrical equipment for the Bismayah New-City Project (BNCP) (pictured). The deal, worth about 160 billion won ($146 million, 170 billion Iraqi dinars), will see the company supply equipment for gas insulated switchgear at 32 substations over the next […]

$3bn Power Plant for Bismaya

By John Lee. Reuters reports that Mass Global will partly finance a $3-billion power plant in Bismaya. The gas-fired, 3,000-megawatt plant is being built by Turkey’s Enka Insaat, whose chairman Sinan Tara said it would be financed partly from Mass Global’s equity and partly from Iraqi lenders. The project will be built in two phases […]

Hanwha Receives Further Payment for Bismaya

By John Lee. Hanwha E&C has announced that the company received the fourth deposit of US$387.5 million (452 billion Iraqi dinars) for the construction of the Bismayah New City (pictured) outside Baghdad. This sum brings Hanwha receipts from the project to $1.9375 billion, 25 percent of the total construction cost. The $8-billion project is the […]

Hyundai Elevator wins $63m Contract

By John Lee. South Korea’s Hyundai Elevator Co. has secured a $63-million contract to supply 1,668 elevators for all apartment buildings of the Bismaya New City Project until 2019. An additional $26 million deal is reported to be likely to be signed within the week to set up elevators in buildings, bringing the total to […]

AS&E Wins Cargo Inspection Contract

By John Lee. American Science and Engineering, Inc. (AS&E) has announced a $3.5-million order for its cargo inspection systems from Restrata, an Olive Group company, of a major housing project in Baghdad. Restrata is acting as the security partner for the giant Bismaya development, 10 kilometers south of Baghdad. AS&E’s cargo X-ray inspection systems will […]

New Iraqi Budget Deepens Housing Crisis

By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The strenuous efforts exerted to handle the housing crisis were quickly rendered useless when the ratified 2013 general budget did away with the allocations for the housing fund, which was to […]