Hyundai E&C secures $3.16bn contract to build seawater treatment plant in Iraq for oil production enhancement. Plant at Khor Al Zubair Port will process 5 million barrels daily for nearby oil fields. Jointly funded by TotalEnergies, QatarEnergy LNG, and Iraq’s Basra Oil Company, completion expected in 49 months.

This significant project follows Hyundai E&C’s $6bn oil refinery in Karbala. The company states it was awarded due to its track record in Iraq despite challenges like wars and Covid-19. In 2023, Hyundai E&C began construction on one of the world’s largest petrochemical facilities in Ulsan, South Korea, with completion set for 2026.

The Shaheen project, developed by S-OIL, a subsidiary of Saudi Aramco, is being constructed at S-OIL’s Ulsan refinery with a total investment of $9.26bn. Hyundai E&C’s successful contract in Iraq is a testament to its capabilities and experience in delivering major projects globally.

Read more at Yahoo Finance: Hyundai E&C wins $3.1bn contract for seawater treatment plant in Iraq