STX Heavy Inks Deal For $3.2 Bn Iraq Petchem Plant

Source: Reuters 2/25/2010, Location: Middle East

South Korea's STX Heavy Industries Co Ltd said it signed a preliminary deal for a $3.2 billion petrochemical project in Iraq. 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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