Hanwha Group win $2.12 Iraq deal

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Hanwha Group win $2.12 Iraq deal

Hanwha Group has signed an order for an additional $2.12 billion in social infrastructure construction for the Bismayah New City project, just four months after the visit of Chairman Seung Youn Kim to Iraq in late 2014.

Bismayah New City Project is a contract Hanwha Group won from the government of Iraq in 2012 to construct 100,000 residential units in an area of approximately 1,830 hectare, totalling $8 billion.

On April 5^th, Hanwha Group signed an agreement for the additional social infrastructure construction for the Bismayah New City at the Iraq National Investment Commission (NIC) Annex in Baghdad.

With this additional order, Hanwha E&C cements its leadership position in the restoration project of postwar Iraq with total value of orders exceeding $10 billion in the Bismayah New City alone.

The new project will supplement the construction for 100,000 residential units currently underway for the Bismayah New City project by constructing a variety of key social infrastructure for the new city including over 300 schools and hospitals, police stations, fire stations, roads and water and sewage systems.

Hanwha E&C’s latest order aims to provide Bismayah New City, the future home to over 600,000 residents, with further self-sufficiency. When completed in 2019, the project is expected to become a testament to Iraq’s recovery and development as the first fully modern city constructed
in the post-war period.

Source: www.hanwha.com

More info: http://tinyurl.com/khtnj8q

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

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Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.