Hyundai E&C Secures $3 Billion Seawater Treatment Plant Project in Iraq

Hyundai Engineering & Construction Co. (Hyundai E&C) has secured a significant contract worth $3 billion to construct a seawater treatment plant in Iraq. This project represents the company’s second-largest construction venture in the country, following a previous contract exceeding $6 billion for an oil refinery in Karbala, which was completed in 2023.

The contract was signed on September 14, 2025, during a ceremony attended by key figures including Ryu Seong-an, head of Hyundai E&C’s plant business division, Patrick Jean Pouyanne, CEO of TotalEnergies, and Mohammed Shia’ Al-Sudani, Prime Minister of Iraq. The facility will be built at the Khor Al Zubair Port, located approximately 500 kilometers southeast of Baghdad.

The seawater treatment plant is part of the Water Infrastructure Project (WIP), designed to produce fresh water at a daily capacity of 5 million barrels. The water generated from this facility will be crucial for enhancing crude oil production in Iraq’s southern oilfields, specifically in the West Qurna and Rumaila regions.

This project is a joint investment involving TotalEnergies, QatarEnergy LNG, and Iraq’s Basra Oil Company. Hyundai E&C anticipates completing construction within 49 months from the start date.

Hyundai E&C’s ongoing presence in Iraq began in 1978 with the construction of a sewage system in Basra. Since then, the company has executed around 40 construction projects in the region, including oil refineries and railways, amounting to a cumulative value of approximately $9 billion.

The recent contract is expected to further solidify Hyundai E&C’s foothold in the global energy market, particularly in the Middle East, where it aims to secure additional contracts for energy infrastructure alongside prominent global energy firms like TotalEnergies.

On the financial markets, shares of Hyundai E&C closed up 1% at 60,000 won (approximately $43.18) on the day of the announcement, outperforming the broader Kospi index, which rose by 0.4%.