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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The first threat to the Chinese agreement.. Companies repudiate the schools project agreements

    Rocky
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    The first threat to the Chinese agreement.. Companies repudiate the schools project agreements Empty The first threat to the Chinese agreement.. Companies repudiate the schools project agreements

    Post by Rocky Mon 07 Nov 2022, 5:16 am

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    [size=52]The first threat to the Chinese agreement.. Companies repudiate the schools project agreements[/size]

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    [size=45]The Chinese company, “ Power China ”, which is implementing the 1,000 schools project in Iraq, has informed the  Iraqi contractors contracting with it, of its inability to pay their financial dues before the year 2023.[/size]
    [size=45]A number of contractors said, "The Chinese company informed us of its inability to pay the financial dues before the year 2023, while the company's contract with the Iraqi government stipulates that they receive an advance operating advance in the amount of 10% of the contract value of one billion eight hundred million US dollars paid by Iraq on exports." oil.”[/size]
    [size=45]They added that "the percentage of completion of projects and construction works for model schools by this company does not exceed 7%, at a time when Chinese companies and Iraqi contracting companies supporting them exceeded half the completion period assumed under the concluded contracts."[/size]
    [size=45]They expressed “their fears of losing their financial dues at a time when the government is asking them to complete the work in these schools,” calling on the government to “intervene to remedy the situation in order to complete the workflow and complete the construction of these schools.”[/size]
    [size=45]According to the contractors, "the Chinese companies have breached the contracts of the agreements according to the penal terms imposed by the Iraqi government on the Chinese companies implementing the construction of those schools," noting that "the whole matter may put the project at great risk."[/size]
    [size=45]On September 23, 2022, the economist, Nabil Al-Marsoumi, revealed China's profits from school building projects in Iraq.[/size]
    [size=45]Al-Marsoumi said in a Facebook post that I followed (Baghdad Today), that “the referral to the Chinese company is $1.8 million, as an average for one school,” noting that “the school is referred to the Iraqi contractor at an amount of $900,000, where $200 thousand is the commission of intermediaries and $700,000 is the company’s profits.” Chinese for one school.[/size]
    [size=45]He pointed out that "700 million dollars was profited by the Chinese company from building 1,000 schools, where the design is Iraqi, the implementation is Iraqi, the money is Iraqi, and the profits are for China."[/size]
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