now loading...
Wealth Asia Connect Treasury & Capital Markets Europe ESG Forum TechTalk
Asia Connect
Daewoo E&C wins US$790 million deal in Libya
Korean firm will build gas-fired power stations in Mellitah and Misurata
Michael Marray 22 Mar 2023

Daewoo Engineering & Construction has signed a US$790 million agreement with General Electricity Company of Libya to build gas-fired power stations in the Mellitah and Misurata regions.

The firm entered the Libyan market in 1978, even before the establishment of diplomatic relations between Libya and South Korea. Since then, the company has completed a total of 163 construction projects in the country.

Daewoo E&C has recently won a number of contracts across Africa, and is involved in high-profile projects in Nigeria, Algeria and Morocco.

Last June the company signed a US$492 million deal with Nigeria’s Warri Refining and Petrochemical Company to repair the latter’s refinery. And in February this year, Daewoo signed a US$590 million deal with the Nigerian National Petroleum Corporation for the rehabilitation of the Kaduna Refinery.

Sing Chan Ng
Sing Chan Ng
head of APAC business origination
Fitch Ratings
Fitch on Vietnam
Overcoming challenges, sustaining growth
Learn More
Eric Liu
Eric Liu
portfolio manager, Asian credit
17th Asia Bond Markets Summit - China Edition
Rebalancing in the transition journey
View Highlights