S. Korean Daewoo Engineering wins US$643m order from Algeria
October 24, 2013 - 11:58:46 am
SEOUL: Daewoo Engineering and Construction Co., one of South Korea's leading builders said Thursday it has won a US$643 million contract to build an oil complex in Algeria.
Daewoo said it plans to complete oil facilities in Berkine, southeast of Algeria, by 2016 under a deal with Algerian state energy firm Sonatrach and a unit of Italian oil firm Eni, according to South Korea's (Yonhap) News Agency.
The facilities, when completed will be able to handle 32,000 barrels of crude oil per day, according to the builder.
The latest order came a day after Daewoo E and C posted a net profit of 50.2 billion won about or $47.5 million between July and September, up 1.4 percent from a year earlier. (QNA)