Hanwha E&C paid additional 540bn won in advance for Iraq project
Seoul - Yonhap
Hanwha Engineering and Construction Corp., one of South Korea's leading builders, said Thursday that it has received an additional 540 billion won (US$510.6 million) in advance payment for its Iraq city project that will kick off next month. This brings the amount of money the builder has received so far for the $8 billion Bismayah New City Project (BNCP) to around $1.6 billion, or 20 percent of the total. The company won the contract in May 2012.
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