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Iran Silent on S. Korea's Hyundai Quitting Major Construction Project

South Korean conglomerate Hyundai's cancellation of a major Iran construction project due to problems related to U.S. economic sanctions has been met with silence in Iranian media. In a brief regulatory filing published Monday, Hyundai Engineering & Construction said it canceled a $521 million contract a day earlier for building a petrochemicals complex in Iran. "The contract was canceled because financing is not complete, which was a prerequisite for the validity of...

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