Iraq awards $ refinery deal to Hyundai

January 08, 2014 - 12:40:37 pm

BAGHDAD: Iraq on Tuesday awarded a $6.04 billion oil refinery contract, with a capacity of 140,000 barrels per day, to a consortium of South Korean firms led by Hyundai Engineering & Construction, a cabinet statement said.

The contract has a duration of 54 months.

According to a statement issued by the Iraqi government, the cabinet approved the recommendation of the Energy Committee in the Iraqi government on referring the tender of the refinery project to the consortium led by Hyundai. (QNA)