The US-based Hill International has been awarded contracts worth a total of $1.5bn to provide project management and construction services for the first phase of a $35bn housing development in Iraq.
Hill International has been awarded a $200m contract by South Korea’s Trac Development Group to provide project management services for the construction of 100,000 houses and related infrastructure at a development that will include 500,000 homes when it is completed.
|Iraq construction awards|
|Source: MEED Projects|
Hill International’s majority-owned subsidiary Hillstone International was also awarded an estimated $1.3bn contract to supply building structural systems to Trac for the first 100,000 houses of the development.
The contracts are for a duration of three years and work on the development is expected to begin in the fourth quarter of 2011 after financing and governmental approval has been finalised. The site was granted to Trac by the National Investment Commission of Iraq.
South Korea’s Hyundai Development Company is expected to be appointed as general contractor for the first phase of the development.
‘’We are excited by this opportunity to support the construction of homes in Iraq,’’ says Irvin Richter, chairman and chief executive, Hill International.
‘’Hill and Hillstone offer a unique combination of services and products ideal for this housing development and we look forward to helping make this ambitious effort a success for our client and for the people of Iraq.’’