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Iraq NIC Chairman, ‘Trust in Hanwha Chairman Kim Seung Yeon, Push forward additional contract’

NSP NEWS AGENCY, By 보티민트 인턴기자, 2013-01-12 20:23 END7
#Hanwha #Construction #Iraq Bismayah #New City #Project NIC

[부산=NSP통신] 보티민트 인턴기자 = Dr. Sami R. Al-Araji, the Chairman of the Iraq National Investment Commission (NIC) said: ‘We put our trust in Mr. Kim Seung Yeon, the Chairman of Hanwha Group, and also plan to push forward with additional contracts’.

Dr. Sami R. Al-Araji made these comments in a press conference about Iraq Bismayah New City project held at Seoul Plaza Hotel on 10th January on his visit to Korea.

Dr. Al-Araji emphasized: ‘I feel sorry that the Chairman of Hanwha Group, Mr. Kim Seung Yeon takes a step back from the front lines of management. However, I trust in Chairman Kim’s strong will and courage so I believe in the future of current construction projects as well as henceforward planned projects that we will actively cooperate on together’.


Of course, Chairman Dr. Sami R. Al-Araji did not omit that the 10% advance received was postponed when he talked about the ongoing Bismayah New City Construction after the formal contract was signed with Chairman Kim Seung Yeon in Bagdad, Iraq.

On the other hand, Dr. Al-Araji also said, ‘Chairman Kim Seung Yeon has pushed forward the business despite the Bismayah New City Project’s difficulties and risks. Because of that courage, contract progress is going on smoothly’.

Besides, Dr. Sami R. Al-Araji mentioned that additional business of Hanwha Group have also been pushed ahead earnestly.

Chairman Sami R. Al-Araji said, ‘Following on Hanwa Group and Bismaya New City Contract, oil refining business and the insurance industry are being carried forward’ and ‘especially, Hanwha holds the second best insurance company in Korea ( Hanwha Life Insurance) so we will discuss about various kinds of insurance businesses such as Iraq Life Insurance, Health Insurance, etc.’

In addition, Chairman Sami R. Al-Araji explained, ‘From 2013 to 2022, Iraq will proceed with 10 year-projects in construction, oil refining, electricity, communication, medical insurance and education’.

Continuing, he said, ‘Currently, there are more than 16 South Korean enterprises which set up offices in Bagdad and the Iraq government directly ensures security for those enterprises inside Iraq’.

In conclusion, Chairman Sami R. Al-Araji responded to the attendees, ‘We are very thankful to Hanwha Group for giving the Iraqi Government and NIC many ideas. Many thanks to the South Korean Government, the South Korean Embassy, the Iraqi Embassy, KOTRA and all other persons concerned’.

보티민트 NSP통신 인턴기자,
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