Saturday, June 2, 2018

South Korea's Daelim industrial says $2.08 billion order from Iran canceled






JUNE 1, 2018 / 11:31 AM / UPDATED 5 HOURS AGO

South Korea's Daelim industrial says $2.08 billion order from Iran canceled

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SEOUL (Reuters) - South Korea’s Daelim Industrial said on Friday that a contract worth 2.23 trillion won ($2.08 billion) for a refinery project in Iran was canceled.

The order was canceled as the Esfahan Refinery Upgrading Project failed to procure financing because of economic sanctions imposed on Iran, Daelim said in a regulatory filing.

Reporting by Haejin Choi; Editing by Vyas Mohan




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