A consortium of Korean engineering firms has
won a contract worth about 6 billion U.S. dollars to build a oil refinery in Iraq.
The joint venture led by Hyundai Engineering and Construction is made up of four builders
including GS E&C and SK E&C. The refinery will be built in Karbala, some
120 kilometers southwest of Baghdad, with construction expected to take four-and-a-half
years. The multi-billion dollar order is the single
largest industrial plant project won by Korean firms.