STX Heavy Industries nabs desulfuration contract

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STX Heavy Industries nabs desulfuration contract

STX Heavy Industries bagged a 99.5 billion won ($89 million) contract to build desulfuration facilities for Korea Western Power Corporation, the company said in a regulatory filing Wednesday.

Under the contract, the affiliate of STX Group will install two desulfuration facilities for the power corporation’s thermoelectric power plant unit No.9 and No.10 in Taean, South Chungcheong.

The contract runs from January 2014 to February 2016.

Creditors led by Korea Development Bank approved STX Heavy Industries’ voluntary corporate restructuring plan on May 24. Creditors agreed to inject a combined 150 billion won in emergency funds and grant a grace period for repayment of 1 trillion won in corporate bonds.
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