June 1, 2018 / 9:31 AM / 22 days ago

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

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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