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Daewoo E&C secures $730 mn expressway upgrade order in Qatar

Collected: 2016.09.09

Distributed: 2016.09.12

Source: Go Direct

[E-Ring expressway]

South Korea’s Daewoo Engineering & Construction Co. (Daewoo E&C) landed a deal worth $730 million to extend E-Ring expressway in Qatar.

The construction company said on Thursday that it won the $730 million order to upgrade E-Ring expressway from Ashghal, the public works authority of Qatar.

The project requires extending the expressway connecting the southern part of Qatar’s capital Doha by 4.5 kilometers as well as adding 4-kilometer-long roads with 8 to 14 lanes and three multi-level intersections.

Daewoo E&C is the sole contractor of the project, and the construction work is expected to take 42 months. Although the expressway zone requiring the addition is only 8.5 kilometers long, the company expects the project to generate handsome profits as it involves building lucrative multi-level intersections.

The company’s winning of the latest deal comes after it has been successfully building another expressway under the 1 trillion won ($911 million) deal in Qatar that it previously won.

Daewoo E&C expects the E-Ring expressway upgrade project to help it win other infrastructural orders in Qatar where the FIFA World Cup will be held in 2022.

By Kim Tae-sung

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