A picture taken on March 12, 2017, shows an Iranian labourer walking the platform of the oil facility in the Khark Island, on the shore of the Gulf, on March 12, 2017. / AFP / ATTA KENARE
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Hyundai has signed a deal worth 3 billion euros ($3.2 billion) to invest in a major Iranian oil project, the South Korean firm confirmed Monday.Hyundai Engineering plans to invest 3.1 billion euros in the second phase of the Kangan oil production and refinery project in southwest Iran, it said in a statement.The South Korean company will have nine months to secure financing for the oil project – a potential obstacle due to continued reluctance of international banks to engage with Iran.
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