By John Lee.
Work on a the $6-billion Karbala Refinery Project has reportedly been suspended.
According to Korea Times, the work has been halted “due to the Iraqi government’s late construction payment, raising concerns about its solvency.”
The Engineer, Procure and Construct (EPC) contractor for the Karbala Refinery Project is HDGSK, a South Korean joint venture led by Hyundai Engineering & Construction. The joint venture consists of Hyundai E&C, Hyundai Engineering Co Ltd, GS Engineering & Construction, and SK Engineering & Construction.
(Source: Korea Times)