New projects see Daewoo E&C expand reach in Africa, M. EastDaewoo Engineering & Construction said yesterday it has secured two construction orders in Morocco and Saudi Arabia worth a total of $460 million.
The phosphate fertilizer plant in Morocco and the onshore gas facility in Saudi Arabia represent the first overseas orders secured by the builder this year, and will likely expand the company’s presence in Northwest Africa and the Arabian Peninsula.
The ODI fertilizer orders call for the building of two plants at the Jorf Lasfar industrial complex some 180 kilometers (112 miles) southwest of Rabat, Morocco, for $330 million.
Work on the plant will take about 27 months and could lead to more orders in the future, the company said. Morocco has the world’s largest phosphate deposit and is the world’s third-largest producer. However, the government is pushing to double its output by 2020.
Daewoo’s Saudi Arabia order is an energy infrastructure building project to process natural gas produced at the Al Khafji Hout oil field.
The $130 million contract ordered by Al Khafji Joint Operation will take 36 months to complete. The Korean builder will be responsible for engineering, procurement and construction of the gas facility.
“Securing the contract amid competing bids from 18 builders is a testament to the company’s competitiveness in the gas-processing field,” the company said. YONHAP
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