Daewoo E&C wins massive $790 million public project in Libya

South Korea's Daewoo Engineering & Construction Co. has landed a massive order from the General Electricity Company of Libya.

Daewoo E&C on Friday said it signed a contract for the fast-track construction of Misurata power generation, or installation of emergency power supply.

The project is to build gas-fired power plants in the Libyan cities of Mellitah and Misurata for $790 million (around 1 trillion won).

Daewoo E&C said the project seeks to prepare for the rapidly increasing demand for electricity in Libya in summer, when electricity supply has been insufficient due to the country’s civil war.

The builder has over 40 years of history with the Libyan government. In 1978 before the setup of official diplomatic ties between both countries, the company was the first from South Korea to enter Libya. It has conducted 163 projects worth $11 billion in the North African country in sectors like construction, power generation, petrochemicals, civil engineering and architecture.

Write to Eun-Ji Shim at summit@hankyung.com