> Project > National Housing &
New Urban Development Project, Republic of Iraq
04/2013 Iraqi Prime Minister Nouri al-Maliki officially announced 'Basra New City Project'.
At a Press conference, Iraqi Prime Minster Nouri al-Maliki and NIC (National Investment Commission) Chairman officially announced that Al Rajhi TRAC Consortium will lead the 'Basra New City Project'. Also Prime Minister Nouri al-Maliki urged that ground breaking should start this year.
01/2013 NIC Chairman and Technical Committee visit Korea to attend
Al Rajhi TRAC Consortium Seoul Meeting. Agreed to approve Master Plan for Basra New City Project
04/2012 Entered into Joint Venture Operating Agreement to establish JVC between Al Rajhi and TRAC (Al Rajhi TRAC Middle East JLT)
02/2012 NIC Chairman and his Delegation visited Korea. Secured Commitment from 30 TRAC Consortium Members from 6 Countries
09/2011 MOA for Basra New City, 100,000 Housing Units Development Project between NIC and TRAC
07/2011 Visit to the Housing Project Sites of Baghdad and Basra Meeting with TRAC Consortium and NIC Chairman, Basra Governor, Basra Investment Commission(BIC) Chairman
06/2011 Finance Conference organized by U.S. Department of Commerce and US Exim (Washington DC, USA).
-NIC Chairman, TRAC, and American Financial Institutions Participated
-Discuss on Financial Support for Iraqi Projects
-US EXIM Presented Letter of Intent of USD 550 Million
06/2011 Designated and contracted Hill International as the Project Manager.
05/2011 Hill & HillStone International visit Seoul, Korea.
04/2011 H.E. Nouri Maliki, the Prime Minister of Iraq visit Seoul, Korea by an invitation of President Mr. Lee, Myung Bak. The Prime Minister and the Chairman of NIC: reviews and consents to the preliminary conceptual Master plan for the development of construction of the first phase one hundred thousand residential housing units.
04/2011 Finalization of financial structure with US EXIM, CitiBank. The Iraqi Government to provide financial guarantee for full cash payment simultaneously upon completion and delivery of the first phase one hundred thousand residential housing units.
03/2011 Received various LOIs for participation from more than 20 domestic and overseas construction companies.
01/2011 Discussion with the National Investment Commission for the urgent developments and construction of various power plant consisting up to 6,000MW.
10/2010 Signing ceremony between NIC and TRAC for the development and construction of new urban development consisting of up to five hundred thousand residential housing units throughout 16 different provinces in the Republic of Iraq.
H.E. Dr. Sami R. Al-Araji, Chairman of NIC, and Iraqi Delegation visit Seoul, Korea by official invitation of the Minister of Land, Transport and Maritime Affairs of Korea to meet with high-ranking government officials and various internationally recognized Korean engineering and construction.
08/2010 Iraqi National Housing & New Urban Development Project and various SOC discussions with the National Investment Commission (NIC)