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.