STX Heavy wins $3.2b deal in Iraq

25 Feb 2010

(MENAFN) South Korea’s STX Heavy Industries Co said that it has signed a preliminary deal for a $3.2 billion petrochemical project in Iraq, Reuters reported.

Unlisted STX Heavy, part of STX Group led by STX Corp, said in a statement it would build a petrochemical complex and related facilities in Basrah.

The complex, to be run by Iraq’s State Compnay for Petrochemical Industries, is set to produce ethylene, propylene, polyethylene and polyvinyl chloride from 2014, it said.

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