Monday, August 13, 2007


South Korean consortium signs Kurdistan construction deals worth $25 bn.

(AFP) - A South Korean construction consortium announced Friday it has signed interim deals worth 25 billion dollars to build dams, highways and houses in Iraqi Kurdistan. The 13-company consortium said it signed a memorandum of understanding with the government of the automomous region in late July in Arbil, where about 1,200 South Korean troops are stationed.
"A deal to build houses and highways was signed with the Ministry of Construction and Housing of the Kurdish government on July 21, and another deal to construct dams was signed with the Ministry of Water Resources on July 24," James Chun, an official at the consortium, was quoted by Yonhap news agency as saying."We will enter into a formal contract to construct houses and highways within six months, and another one to build dams within 18 months.
"Under the deal the South Korean firms will construct houses, five multipurpose dams and highways spanning 182 kilometres (114 miles) to link Arbil with the border city of Zakho, Chun said.The consortium includes Hyundai Engineering and Construction, Sungwon Corp, Posco Engineering and Construction, Hanshin Construction and Dongmoon Construction.The South Korean troop contingent, the third largest in the US-led coalition, provides medical services and builds roads, power lines and schools.The Seoul government has yet to decide whether to extend their stay or withdraw them.

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