Hyundai awarded $6bn Iraq refinery contract
Firm part of South Korean consortium working on Kerbala project
A consortium of South Korean firms, led by Hyundai Engineering & Construction, has bagged a $6.04bn oil refinery contract from the Iraq government.
The refinery will be located in Kerbala with a capacity of 140,000 barrels per day and the work will be undertaken in 54 months.
Earlier, Technip was awarded the project management consultancy of the refinery.
The Kerbala project is part of Iraq’s longer-term plan to construct four new refineries in an effort to add 750,000 bpd of refining capacity. The other three new refineries are to be at Nassiriya, Maysan, and Kirkuk.