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Seoul (AFP) Feb 4, 2010 South Korea's STX Heavy Industries said Thursday it has signed an initial three billion dollar deal with Iraq to build a steel plant and gas-fired power station as part of post-war reconstruction. The firm said in a statement it signed a memorandum of understanding to build the power plant with a 500 megawatt capacity and a steel plant with an annual three million ton capacity in the southern city of Basra. Iraq needs eight million tons of steel a year for reconstruction and infrastructure, STX Heavy said, adding it would seek more reconstruction contracts.
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Iraq gears up to supply Europe's gasBaghdad (UPI) Feb 3, 2009 Iraq looks set to play a key role in the Nabucco pipeline project that will carry natural gas 2,000 miles from the Caspian Sea basin through Turkey to Austria to feed energy-hungry Europe and break Russia's stranglehold. Expansionist Turkey, in a move that signals a new effort to make peace with its Kurdish separatists, has already signed up Iraq's semiautonomous Kurdish enclave to prov ... read more |
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