STX Heavy inks deal for $3.2 bln Iraq petchem plant

[IcemanSC]

STX Heavy inks deal for $3.2 bln Iraq petchem plant
Thu Feb 25, 2010 2:02am ESTRelated NewsUPDATE


SEOUL, Feb 25 (Reuters) - South Korea's STX Heavy Industries Co Ltd said it signed a preliminary deal for a $3.2 billion petrochemical project in Iraq on Thursday.

Basic Materials

Unlisted STX Heavy, part of STX Group led by STX Corp (011810.KS), 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. (Reporting by Shin Ji-eun, Cho Mee-young and Rhee So-eui; Editing by Jonathan Hopfner)

[Outlawdave]

Wow that is amazing

Thanks Iceman

Dave

[mannamay]

Nice post.