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South Korean builders sign US$ 25 billion deals in
Iraqi Kurdistan
10.8.2007
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August 10, 2007
SEOUL, -- A South Korean construction
consortium announced Friday it has signed interim
deals worth 25 billion dollars to build dams,
highways and houses in Iraqi autonomous region of
Kurdistan.
The 13-company consortium said it signed a
memorandum of understanding with the government of
the autonomous region in late July in the capital of
Erbil, 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 Erbil 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.
Since 1991, the Kurds of Iraq achieved self-rule in
part of the country. Today's teenagers are the first
generation to grow up under Kurdish rule. In the new
Iraqi Constitution, it is referred to as Kurdistan
region. Kurdistan region has all the trappings of an
independent state -- its own constitution, its own
parliament, its own flag, its own army, its own
border patrol, its own national anthem, its own
education system, even its own stamp inked into the
passports of visitors.
AFP
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