South Korea’s Hyundai E&C cancels $521 million petrochemicals deal, cites Iran financing failure

29 October 2018, News Wires — South Korea’s Hyundai Engineering & Construction said on Monday that it scrapped a 595 billion won ($521 million) deal to build a petrochemicals complex in Iran, saying the Iranian customer’s ability to fund it had been hit by the prospect of U.S. economic sanctions against Tehran. In a regulatory filing, … More »