Daewoo E&C nails down contract for Malaysia project

Daewoo Engineering & Construction said yesterday it won a $130 million order in Malaysia to build an office building.

The nation’s third-largest builder in terms of construction capacity said it grabbed a Public Bank Project ordered by local real estate developer Public Holdings Sdn Bhd and will construct a 40-story building (which also has six underground floors) in downtown Kuala Lumpur.

Daewoo E&C said it will start construction later this month and will take about 28 months to complete.

The company entered the Malaysian market in 1983, and has won 15 projects worth $2.3 billion after such projects as IB Tower and KLCC Tower.

This would be the third major overseas construction project Daewoo E&C has clinched this year worth a total of $430 million.