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 […]
Tag Archives | Bismaya
Tags: Basmaya, Basmaya Power Plant, Bismaya, Bismayah, Electricity In Iraq, featured, GE, General Electric, Mass Energy Group Holding, Mass Global
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 […]
Tags: ABB, Bismaya, Bismayah, Electricity In Iraq, featured, korea, LS Industrial Systems (LSIS), Siemens
$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 […]
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 […]
Tags: American Science and Engineering, AS&E, Baghdad, Bismaya, Bismayah, Housing, Olive Group, Restrata
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 […]