Ssangyong wins $200m Iraq contract
Deal will see South Korean firm build water treatment plant and transmission and storage facilities
South Korea’s Ssangyong Engineering & Construction has said it has been awarded a contract by the Kurdistan Regional Government (KRG) for infrastructure projects in the Iraqi semi-autonomous region.
Under the $200m deal, Ssangyong is to build a water treatment plant and transmission and storage facilities in the cities of Halabja and Sulaymaniah, in the northern Kurdish region, within 24 months.
The project is being financed by the Japan International Cooperation Agency (JICA).
The Korean builder beat out the world’s second-largest construction firm Vinci of France to net the order. The company is looking to secure a foothold in the country, which plans to spend a total of$186bn by 2015 on national reconstruction projects.
