Daewoo E and C wins $730m Qatar expressway contract
South Korea’s Daewoo Engineering & Construction Company has won a $730 million contract by Ashghal, the Qatar public works authority for the extension of the E-Ring expressway in Doha.
According to the contract, Daewoo E&C will be the sole contractor of this project, and the work will be completed in 42 months, reported Business Korea.
The project involves the extension of the expressway connecting the southern part of Doha by 4.5 km as well as adding 4-km-long roads with 8 to 14 lanes and three multi-level intersections.
Although the project is the construction of the 8.5-km section of the road, it has a high profitability in the future due to a large amount of construction costs as it has three multi-level crossing interchanges, said the report citing a Daewoo E&C spokesman.
The company has so far won a total of five projects worth 3.27 trillion won ($3 billion) in Qatar after entering the market in 2005.
Beginning with road construction work in Ecuador in the late 1970s, Daewoo have built more than three hundred projects in over forty countries, including in Asia, the Middle East, Africa, and Europe.
They operate branches and subsidiaries in Asia, Africa, the Middle East, Europe, the US, and other parts of the world as part of our strategy of advancing into overseas markets and strengthening our overseas operations.
They are currently working on more than forty-five overseas projects, winning plaudits for advanced technologies and outstanding construction capabilities.