[Courtesy of Isfahan Oil Refinery]
South Korea's Daelim Industrial Co. has secured a 1.9 billion US dollar deal to improve and optimize refinery facilities in Iran, marking its first major construction order following the lifting of international sanctions on Tehran this year.
The builder said Thursday it has received a letter of award on the contract to expand the facilities of Iran's Isfahan Oil Refinery south of Tehran. A formal contract would be signed next month.
The deal worth 2.3 trillion won ($1.9 billion) is a four-year engineering, procurement and construction (EPC) contract with Daelim's financing. The builder has been actively involved in construction projects in Iran even before international sanctions were lifted in January.
reporter
Park Sae-jin
swatchsjp@ajunews.com
