hankyoreh

A consortium of 13 South Korean builders said Friday it has sealed a temporary accord worth US$25 billion with the Kurdistan Regional Government to improve infrastructure in the autonomous region of northern Iraq.

The consortium said it inked the memorandum of understanding with the Kurdish government in late July to build dams, highways and houses in Irbil, where about 1,200 South Korean troops are stationed.

"A deal to build houses and highways was signed with the Ministry of Water Resources of the Kurdish government on July 21, and another deal to construct dams was signed with the Ministry of Construction and Housing on July 24," said James Chun, an official at the consortium.

"We will enter into a formal contract to construct houses and highways within six months, and another one to build dams within 18 months," he added.

Under the agreement, the South Korean builders will construct houses, five multipurpose dams, and highways spanning 182 kilometers to link Irbil with Zakho, a border city between Iraq and Turkey, the official said.

The South Korean consortium includes Hyundai Engineering & Construction Co., Sungwon Corp., Posco Engineering & Construction Co., Hanshin Construction Co. and Dongmoon Construction Co. SEOUL, Aug. 10 (Yonhap News)