Hyundai signs a deal of about two billion dollars with Iraq

[yota691]

Hyundai signs a deal of about two billion dollars with Iraq

•  Time: 10/30/2020 12:05:46
•  
•  Read: 3,848 times

  

{International: Al Furat News} Hyundai Engineering and Construction Company, the main construction company in South Korea, announced today, Friday, that it concluded a deal worth $ 1.99 billion to build a waste recycling facility in Basra Governorate.

The South Korean construction company said it had signed the contract with the state-run Basra Oil Company to build the facility.
The waste upgrade facility produces high-value chemical products, such as propylene and gasoline, using residues left over after refining the crude oil.
Hyundai Engineering and Construction said it would start building the facility in January to complete it by July 2025.
It indicated that the deal represented 11.7% of the company's revenue last year.
Ammar Al-Masoudi

[King Bean]

Great news, Yota. Here they come (international trade partners) lined up at the gates to get in. Kazemi magic mo-jo starting to take effect. Come on Forex and IQD !!

[3n1]

letsroll ......

[dinarham]

 There is so much big money flowing into Iraq in the form of huge international companies  that are laying out massive amounts of money in Iraq.   I have to think that the ladies and mans that run these huge companies have analyzed this from every .possible angle . They know what we  couldn't possibly know . Many international concerns have been in Iraq for a long time , including microsoft and fiber optics stuff  . Look it up and you can see for yourself.  I'm asking you as much I'm asking myself to put more thought into where you want to put this casho ,scrilla .benjamins  ,lolly , ducats , capital . It's way more fun , but not without its challenges .                                           

[yota691]

The conclusion of a deal with «Hyundai» worth 1.9 billion dollars

Saturday, October 31, 2020 57

 

 Baghdad: Tariq Al-Araji

 

Today, Friday, the Korean company Hyundai Engineering and Construction announced that it had signed a contract worth 1.9 billion dollars (2.2 trillion won) to establish a plant for recycling oil waste in Iraq. A facility that would raise the level of waste in the Southern Governorate ».

She added that “the waste recycling plant is expected to produce high-quality chemical products, such as propylene and gasoline, using residues left after refining crude oil.” Hyundai said that it will start construction work on the facility in January of next year, to be inaugurated by July. 2025, and indicated that the deal represents 11.7 percent of last year's revenue for the company, which is the main construction company in South Korea.

For his part, the spokesman for the Ministry of Oil, Assem Jihad, confirmed to Al-Sabah that “Hyundai is one of the companies that has experience to work in Iraq, as it is currently establishing the Karbala refinery with a capacity of 140 thousand barrels per day.” The new contract, that «the Japanese company (JGC) contracting with the Ministry of Oil to implement the (FCC) project in Basra contracted with the company (Hyundai) recently as (a subcontractor) to implement one of the stages of this project.