Daewoo E&C wins $3.1 bn in orders from Iraq, Mozambique

Daewoo Engineering & Construction Co. has racked up two orders totaling $3.1 billion from Iraq and Mozambique to build a port and an LNG train, respectively, the company said on Dec. 23.

With the new orders received, the South Korean builder topped its annual target of 5 trillion won ($4.5 billion) for overseas contracts.

In Iraq, Daewoo E&C will build the first phase of a new port for $2.6 billion in Al Faw in the south of Iraq, under the $6 billion national project to construct transportation routes to surrounding countries, including Turkey. Upon completion, the port will be able to handle 99 million tons of container volume as the world’s 12th-largest port. 

Daewoo E&C will sign the contract within this month, the company said.
Daewoo has already secured orders for breakwaters, container berths and roads for the project. 

In Mozambique, Daewoo will build a second LNG train and related facilities for $455.6 million as part of the Mozambique LNG Area1 project. 

With a capacity of 6.44 metric tons per annum (Mtpa), the LNG train will be constructed in the Afungi Industrial Complex in Palma, the northernmost district of Mozambique. An LNG train is a liquefaction and purification facility for liquefied natural gas.

Mozambique LNG Area 1 is the African country’s onshore liquefied natural gas (LNG) development project. The project includes two LNG trains with a total capacity of 12.88 million metric tons and its associated facilities.

Write to Yeun-il Jeong at neil@hankyung.com
Yeonhee Kim edited this article.