STX Heavy embarks on Iraq power plant construction

Home > Business > Economy

print dictionary print

STX Heavy embarks on Iraq power plant construction

STX Heavy Industries said yesterday that it has started work on building power plants in Iraq, after it won a deal in May valued at around 3 trillion won ($2.7 billion).

Under the deal with Iraq’s electricity ministry, STX Heavy will build 25 power plants across the strife-torn nation to generate a combined 2,500 megawatts.

The firs phase of construction on the diesel-fired plants will be completed by June 2012, the company said.

The units in question represent half of the 50 new 100-megawatt power plants that Baghdad plans to build at a cost of $6.25 billion.

STX Heavy won a 150 billion won order from an Iraqi oil firm to build a power plant in August last year.

More in Economy

Tapped out and hunkered down, Korea stares recession in the face

Property owners get big tax shock

Household debt keeps climbing despite gov't efforts

Career interruptions due to marriage and childbirth down 11 percent

Despite vaccine shot in the arm, credit risk remains in markets

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now