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Daewoo E&C wins US$590 mln road construction deal from Qatar

All Headlines 15:05 February 02, 2017

SEOUL, Feb. 2 (Yonhap) -- South Korean builder Daewoo E&C has signed a deal to expand and build an expressway in Qatar, the company said Thursday.

Under the deal, signed Wednesday in Qatar, the South Korean construction firm will add a 4.5-kilometer extension to the country's E-Ring expressway, while also building 4 kilometers of roads with three multilevel intersections.

A rendering of E-Ring expressway (Courtesy of Daewoo E&C)

The South Korean firm was initially awarded the project in 2016 for US$730 million.

But after changes to the original plan, the deal was signed this week for $590 million won, according to company officials.

"With the deal signed this week, the company now has a strong chance to win additional projects ahead of the 2022 FIFA World Cup in Qatar," an official said.

The construction for the E-Ring expressway is expected to take 42 months. Company officials said the groundbreaking will take place later this month.
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