STX unit wins US$3 bln power plant, steelwork deal from Iraq

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SEOUL, Feb. 4 (Yonhap) -- STX Corp., a South Korean company, said Thursday that
its unit has won a US$3 billion deal to build a gas-fired power plant and a
steel-making plant in Iraq.
Under the deal with the Iraqi government, STX Heavy Industries Co. will build the
power plant with a capacity of 500 megawatts and the steelwork in the country's
Basrah region, it said.
The steelwork will have an annual capacity of 3 million tons, it said.
Shares of STX were trading at 16,800 won on the Seoul bourse as of 10:06 a.m., up
3.07 percent.
STX said Iraq needs around 8 million tons of steel to rebuild its war-ravaged
infrastructure.
sam@yna.co.kr
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