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[size=36]The investment confirms the completion of the Basmaya project and clarifies the prices of units and services[/size]
Economie| 09:59 - 10/08/2022
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Baghdad - Mawazine News
Today, Wednesday, the Investment Authority clarified the most prominent points of contention that stopped work in the Basmaya residential complex during the last period, and while it confirmed its resolution and resumption of work, reassuring citizens of the completion of the project, it responded to the demands to develop the services of the complex and establish the road leading to it, pointing to the imminent opening of a large commercial project in it.
The head of the Investment Authority, Suha Al-Najjar, said that "the dispute with the Korean Hanwha Company revolved around the achievement and the financial position, as the company stopped working, claiming that the government and the Investment Authority failed to pay the required financial payments in exchange for continuing work."
She added, "After reviewing the matter by referring to Deloitte International Company to conduct the legal and financial audits, it was found that the government handed the company more financial payments than the company deserves for the achieved completion rates, which range between 30-35%, while the government handed the company money equivalent to a completion rate that should reach to 50%, which the company did not reach and means that it received more payments than the actual achievement.”
And she added, "Based on these legal facts, we have held negotiations with the company to discuss the outcomes of the audit process, which proved that the Iraqi government paid an amount exceeding one billion dollars above the amount owed to the company. .
She pointed out that "the Basmaya project includes the construction of 100,000 housing units, the authority received only 20,000, and in return the company implemented an unparalleled infrastructure in Iraq, and we assure the citizens that work on the project will be completed and will continue."
Regarding the conditions for obtaining housing units by citizens and whether they have changed, Al-Najjar indicated that "the conditions have not changed and are the same, and the prices of apartments will remain in dollars. There is a very strong demand and they are determined to complete the project."
With regard to the project of the road leading to Basmaya and the services needed by the residents of the complex, Al-Najjar explained, "The road was taken over by the Ministry of Housing and entered into last year's budget and will continue, and the Ministry has taken serious steps to clear the conflicts to complete it," noting, "As for the issue of services, it declined due to Hanwha's suspension of work and once it resumed." Services will be redeveloped, and a commercial complex for the international Carrefour company will be opened in Besmaya, and we stressed that it must be completed quickly.”
Earlier today, Wednesday, the National Investment Commission announced the details of its discussions with the Korean Hanwha Company regarding the Basmaya residential complex, while indicating that there is a serious desire to move forward with the project and overcome all problems. Ended 29 / p. 87
The head of the Investment Authority, Suha Al-Najjar, said that "the dispute with the Korean Hanwha Company revolved around the achievement and the financial position, as the company stopped working, claiming that the government and the Investment Authority failed to pay the required financial payments in exchange for continuing work."
She added, "After reviewing the matter by referring to Deloitte International Company to conduct the legal and financial audits, it was found that the government handed the company more financial payments than the company deserves for the achieved completion rates, which range between 30-35%, while the government handed the company money equivalent to a completion rate that should reach to 50%, which the company did not reach and means that it received more payments than the actual achievement.”
And she added, "Based on these legal facts, we have held negotiations with the company to discuss the outcomes of the audit process, which proved that the Iraqi government paid an amount exceeding one billion dollars above the amount owed to the company. .
She pointed out that "the Basmaya project includes the construction of 100,000 housing units, the authority received only 20,000, and in return the company implemented an unparalleled infrastructure in Iraq, and we assure the citizens that work on the project will be completed and will continue."
Regarding the conditions for obtaining housing units by citizens and whether they have changed, Al-Najjar indicated that "the conditions have not changed and are the same, and the prices of apartments will remain in dollars. There is a very strong demand and they are determined to complete the project."
With regard to the project of the road leading to Basmaya and the services needed by the residents of the complex, Al-Najjar explained, "The road was taken over by the Ministry of Housing and entered into last year's budget and will continue, and the Ministry has taken serious steps to clear the conflicts to complete it," noting, "As for the issue of services, it declined due to Hanwha's suspension of work and once it resumed." Services will be redeveloped, and a commercial complex for the international Carrefour company will be opened in Besmaya, and we stressed that it must be completed quickly.”
Earlier today, Wednesday, the National Investment Commission announced the details of its discussions with the Korean Hanwha Company regarding the Basmaya residential complex, while indicating that there is a serious desire to move forward with the project and overcome all problems. Ended 29 / p. 87
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