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Completion of "Bismaya", including... South Korea seeks to complete construction projects in Iraq and Saudi Arabia
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2023-07-03 04:39
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Completion of "Bismaya", including... South Korea seeks to complete construction projects in Iraq and Saudi Arabia
Shafaq News/ The South Korean government announced today, Monday, that it is seeking to provide extensive support for major projects in order to achieve the goal of building orders abroad for this year, at a value of $35 billion.
According to the Korean Yonhap News Agency, the statement was made by the Korean Minister of Land, Infrastructure and Transport, Won Hee-ryong, during a cabinet meeting on Monday morning.
According to the Korean Land Ministry, the value of overseas construction orders in the first half of this year amounted to 17.3 billion dollars, up 44 percent from the same period last year ($12 billion). This came thanks to Hyundai Engineering and Construction winning a $5 billion project to build a petrochemical plant in Jubail, Saudi Arabia.
The ministry said it is focusing all efforts on implementing follow-up measures for the visit of a Korean team to Saudi Arabia and the joint commission between South Korea and Iraq.
She added that it was agreed during the joint committee between South Korea and Iraq, which was held on June 21 in Seoul, to strengthen cooperation to resume the new Bismayah city project, which was suspended last year, indicating the remaining construction volume for this project amounts to 6 billion dollars.
The Ministry plans to support the rapid implementation of the new Bismayah city project in cooperation with the Ministry of Foreign Affairs and the Iraqi government. It also plans to cooperate in the follow-up project for the new Al-Faw port and sign a memorandum of understanding for cooperation in the field of transport.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-07-03 04:39
Share
Font
Completion of "Bismaya", including... South Korea seeks to complete construction projects in Iraq and Saudi Arabia
Shafaq News/ The South Korean government announced today, Monday, that it is seeking to provide extensive support for major projects in order to achieve the goal of building orders abroad for this year, at a value of $35 billion.
According to the Korean Yonhap News Agency, the statement was made by the Korean Minister of Land, Infrastructure and Transport, Won Hee-ryong, during a cabinet meeting on Monday morning.
According to the Korean Land Ministry, the value of overseas construction orders in the first half of this year amounted to 17.3 billion dollars, up 44 percent from the same period last year ($12 billion). This came thanks to Hyundai Engineering and Construction winning a $5 billion project to build a petrochemical plant in Jubail, Saudi Arabia.
The ministry said it is focusing all efforts on implementing follow-up measures for the visit of a Korean team to Saudi Arabia and the joint commission between South Korea and Iraq.
She added that it was agreed during the joint committee between South Korea and Iraq, which was held on June 21 in Seoul, to strengthen cooperation to resume the new Bismayah city project, which was suspended last year, indicating the remaining construction volume for this project amounts to 6 billion dollars.
The Ministry plans to support the rapid implementation of the new Bismayah city project in cooperation with the Ministry of Foreign Affairs and the Iraqi government. It also plans to cooperate in the follow-up project for the new Al-Faw port and sign a memorandum of understanding for cooperation in the field of transport.
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