Tag Archives | Bismayah

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 […]

Hanwha Wins $2bn Iraq Order

By John Lee. South Korea’s Hanwha Group has reportedly won a $2.12-billion (2.5-trillion-Iraqi-dinar) order to build the social infrastructure for Bismayah New City. According to Yonhap News Agency, the agreement was signed with Iraq’s National Investment Commission (NIC) on Monday. The Group is currently building 100,000 homes at the project, which are due for completion […]

$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 […]

Hanwha Opens Precast Concrete Plant at Bismayah

Prime Minister Nouri Kamil al-Maliki has opened the new Hanwha Precast Concrete Plant at the Bismayah New City development near Baghdad. Speaking at the event, he said that “this project is our dream that has come true because it reflects our hope to provide housing units for all Iraqi people who were deprived of their […]

Hanwha Gets $511m Advance Payment

By John Lee. South Korea’s Hanwha Engineering and Construction has said that it has received an additional $511 million in advance payment for its Bismayah New City Project (BNCP), located 10 kilometers southeast of Baghdad. According to a report from Yonhap News, this brings the amount of money the builder has received so far for […]

NIC Reduces Downpayments at Bismayah

Iraq’s National Investment Commission (NIC) decided to reduce the down payment required to buy housing units at the new Bismayah development. NIC Chairman Dr. Sami al-Araji said that following requests from the public, the down payment would be reduced from 25 percent to 10 percent. He added that work at Bismaya, the biggest housing project […]

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 […]