Hanwha Chairman Seung Youn Kim Visited
the Bismayah New City Project(BNCP) Site in Iraq
  • - BNCP is a mega construction project to build 100,000 residential units
  • - Hanwha has gained confidence from the Iraqi government based on
    its continued efforts despite the ISIL crisis
  • - Mr. Kim met Dr. Sami, Chairman of National Investment Commission
    of Iraq (NIC) to discuss additional projects

[09 December, 2014] From December 7th to December 9th, Seung Youn Kim,
Chairman of Hanwha Group, visited the site of the Bismayah New City Project (BNCP) to encourage
the employees of Hanwha Engineering & Construction and partners, who remained committed
to working hard at the site despite the ISIL crisis in Iraq.

BNCP is the first and the biggest city development project throughout the history of Iraq through
which Hanwha will build 100,000 residential units on a total area of 1,830 Hectare.

Mr. Kim’s visit to Iraq was followed by his previous meeting with Nouri al-Maliki in July 2012.
Two years and five months ago, he met the former Iraqi prime minister to discuss additional
contracts for the restoration project of postwar Iraq.

In addition, Mr. Kim was visited by Dr. Sami R. Al-Araji, Chairman of Iraqi National Investment
Commission (NIC), and together they visited the Bismayah project site and discuss further
projects there. Dr. Sami thanked Hanwha E&C for its continued construction work even
during the ISIL crisis in Iraq. He said, “Hanwha is in a more favorable position to win
the future bidding for the Bismayah New City social infrastructure project than its competitors.
I hope that Hanwha will proactively participate in the upcoming two huge national projects.”
Mr. Kim replied, “We will work hard to build the Bismayah new city as a world-class
human-friendly city based on our firm belief that we are building the homes
of hope for the people of Iraq.”

In the first of eight Bismayah new city towns, ten story apartment buildings can be seen looming day by
day. In June 2015, 1,440 households will move into the apartments located in the A1 block.
On other blocks, site preparation, foundation work and apartment building has continued.
At the peak time of the construction, 20,000 residential units will be provided in a year.
With the completion of the project, the Bismayah will be a gargantuan new city consisting
of 834 apartment buildings on 59 blocks in eight towns. Because all the cables were installed
underground, the city will see the first advanced telegraph-poleless apartment complex in Iraq.

Mr. Kim said, "As we were not shaken by the ISIL crisis, we gained the confidence of the Iraqi government.
I hope we will continue our success by winning another and yet another Bismayah-like huge contract
through the successful completion of the current project.”

Hanwha Engineering & Construction

Capitalizing on extensive experience and technologies gained over the course of numerous construction projects, Hanwha E&C has been rapidly growing into a global player at an annual average growth rate of 20% since 2002. Our competitiveness is internationally recognized, ranking 72nd on the list of Global Contractors announced by the international construction magazine Engineering News Record (ENR) in 2014. Our goal is to become a world-renowned construction company by 2020 with our “Design the World” vision.

For more information, visit: www.hwenc.com

Hanwha Group

Hanwha Group, founded in 1952, is one of the Top-Ten business enterprises in South Korea
and a “FORTUNE Global 500” company. Hanwha Group has 56 domestic affiliates and 226 global networks in three major sectors: manufacturing and construction, finance, and services and leisure.
With more than 60 years track record of industrial leadership, Hanwha’s manufacturing and construction businesses encompass a broad range of fields from chemicals & materials, aerospace & mechatronics, total solar energy solutions, and global construction. The finance network, covering insurance, asset management and securities, is the second largest non-bank financial group in South Korea. The services and leisure sector offers premium lifestyle services with retail and resort businesses.

For more information, visit: www.hanwha.com

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