Hyundai wins $2.4bn Desalination Contract

By John Lee.

Hyundai Engineering & Construction has reportedly won a $2.45-billion deal to build a seawater processing facility in Iraq.

South Korean media report that the company signed a letter of intent with Basra Oil Company (BOC) on Wednesday for the 49-month project, which will be capable of supplying 5 million barrels of fresh water per day.

This will help to increase output at Iraq’s oil fields.

(Sources: Yonhap, Korea Herald)

2 Responses to Hyundai wins $2.4bn Desalination Contract

  1. Faleh Alkhayat 23rd May 2019 at 14:57 #

    Letter of intent is not winning a contract — the title is misleading

  2. Rob B 28th May 2019 at 13:26 #

    I was trying to find the article link Faleh refers to it being a letter of intent.
    The concept to wit increases oil production is sound. Even if it is L.O.I. But Iraqs water situation would dictate that water be used to meet domestic and commercial needs above oil production. Speaking of which, 2.4 Bn?? So with all this wealth being thrown around in the balancing of budgets, why is it that they are still under U.N sanctions and monetary control and there is no international rate?? Just how wealthy can a non trading currency be. Any with all the confidence being sunk into Iraq these days, why are they still sitting on a closed internal financial loop? When is the Hydrocarbon law going to be singed in? Has it not had its third reading and ascension as yet??

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