Bloomberg News

Iraq Signs Unit-Building Contract With South Korea’s Hanwha

May 26, 2012

Iraq signed a contract with South Korea’s Hanwha Engineering & Construction Corp. to build 100,000 residential units in the capital, Baghdad, according to an e- mailed statement yesterday from the city’s governor.

Salah Abdul Razzaq, Baghdad’s governor, said more than 30,000 people are registered for the units so far, adding that the project will secure 100,000 jobs.

Abdul Razzaq said the Iraqi parliament may soon approve $2 billion worth of projects for the Housing Ministry to build residential units.

To contact the reporter on this story: Khalid Al-Ansary in Dubai at kalansary@bloomberg.net

To contact the editor responsible for this story: Paul Tighe at ptighe@bloomberg.net


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