Basra scraps $500m Hyundai contract due to involvement in Kuwati port

[k98nights]

Basra scraps $500m Hyundai contract due to involvement in Kuwati port

01/09/2011 11:26

Basra, Sept.1 (AKnews)- Basra Governorate has refused to license Hyundai to construct a giant power plant in the province because the South Korean company has been engaged in the construction of a controversial Port in Kuwait.

The official spokesman for Basra Governorate told AKnews today that the Governorate has decided to stop work with all Kuwaiti companies, as well as those which deal with Kuwait, in particular those which work on Mubarak Port.

Ayad al-Amara said the Iraqi Ministry of Electricity had previously agreed for Hyundai to construct the US$500 million plant in Basra. The company was to launch the 500 MW project today.

“But the local administration in Basra has rejected Hyundai and demanded the government name a substitute to hand over the construction to,” Amara added

Mubarak Port has proved controversial since the Kuwaitis announced they planned to build it just a few kilometers away from Iraq’s planned al-Faw Port.

Iraqi economists say the port will steal 60 per cent of Iraq’s maritime trade.

The Iraqi government demanded that Kuwait delay work on the port until Iraq probes the alleged ‘harmful’ effects of the port on Iraqi economy.

The neighbor has turned down the request, deploying forces around the Bumyan Island after a threatened rocket attack by insurgent Shia group, Hezbollah.

By Nur Tamimi

http://www.aknews.com/en/aknews/2/259756/

[LittleMissGrits]

Cut off your nose to spite your face! Yup, makes perfect sense!!!

[MoneyMoney7]

Seems like with all this bikering, and fighting between kuwait, Iraq, the kurds, and Iran, the RV may be delayed for years. The US needs to invade again, and remove some of these politicians that fail to do the right thing.

[Realdinar]

Wow, with attitude like this, no wonder they are poor and currupt.

[Dalite]

Nice Temper Tantrum...

Why have Electricity when you already have enough Hubris.

Wait until all your neighbors are driving those Hyundais; they have lights, and alternators too.

There may be a new slogan for his re-election campaign "An Air Conditioner in every Hyundai"

It's not as good as a Chicken in Every Pot, but, apparently he isn't as good as most dog catchers..

[Carrello]

I think September 9th just became even more interesting.