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FINANCIAL NEWS
Iraq, S. Korea’s LS sign USD150m electricity gear deal
14 May 2015
(MENAFN) South Korean LS Industrial Systems Co. was granted a contract worth USD150 million to provide electricity gear for several substations in Iraq, Qatar News Agency reported.
The signing marks the Korean company’s ever largest foreign investment deal, through which equipment for the Gas Insulated Switchgear (GIS) substations are set to be provided to build them as a part of Bismayah New City Project (BNCP).
BNCP is presently operational by Hanwha Engineering & Construction Corp, which is a South Korean construction company. The contract will remain valid for up to four years from now.
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