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Daewoo E&C Obtains 680B Won Order in Algeria
Algeria Plant Project
Daewoo E&C Obtains 680B Won Order in Algeria
  • By matthew
  • October 25, 2013, 05:02
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Headquarters of Daewoo E&C.
Headquarters of Daewoo E&C.

 

Daewoo E&C obtained a plant construction order worth 680 billion won in Algeria.

On October 24, Daewoo E&C announced it signed the contract with the Algerian government-owned oil company Sonatrach, and the Italian oil company Eni’s affiliate First Calgary Petroleums, for “CAFC Oil Project” construction worth 683.4 billion won (US$643 million). 

In this project, for the next 34 months Daewoo E&C will be in charge of EPC in building a central oil processing unit and additional facilities which can manage 32,000 barrels per day in the Berkine region, southeast of Algeria. 

Daewoo E&C is the first domestic E&C Company to have entered Algeria in 1989, for the Algerian Hilton Hotel construction. Since then it has obtained a total of nine orders in Algeria altogether worth US$3.964 billion, including the Boughzoul New Town project, which is the first case of exporting a Korean style new town.