NIC announces new details on contracting concerning The City of Basmaia

Baghdad-INA


The head of the National investment Commission Suha al-Najjar announced on Wednesday new details on the contract regarding the city of Basmaia, while confirming the insistence on completing the project.

"The percentage of the project completed in Basmaia is lower than the expenses paid," al-Najjar said at a press conference followed by the Iraqi News Agency (INA), adding that "those responsible for not completing the project are the beneficiaries."
 
"We need about 4 billion dollars to complete the project in Basmaia," she said, adding that "it’s important to insist on completing the project and correcting the mistakes that had been made in the past."
 
"Thirteen thousand new housing units will be completed over the next two years," she said, warning against "buying apartments through brokers."
 
"Only 30 percent of the residents of the units are committed to pay financial obligations," she said.
 
"Hanwa's work in Basmaia was suspended due to the termination of the contract and the investment authority stopped paying," al-Najjar said, adding that "We will end cooperation with Iraqna Services after the end of the contract”.
 
 "The Basmaia highway will be implemented by the Ministry of Reconstruction," she said.