Daewoo E&C makes deal for Indonesian building projects

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Daewoo E&C makes deal for Indonesian building projects

Daewoo Engineering and Construction, the nation’s third-largest builder, said yesterday that it secured an $82million order in Indonesia, after forming a consortium with local construction firm Acset.

Daewoo E&C said that this is first time in 12 years that the company will conduct projects in Indonesia, following the building of the Kufpec refinery facilities in 2001.

The project will entail the building of two large office buildings, three 36-story apartment buildings and other commercial buildings in the Sudirman Central Business District in Jakarta. The project is expected to take 33 months to complete, according to Daewoo E&C.

The company said that its stake in the project amounts to $32 million.

Bloomberg

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