Daewoo E&C says its joint venture wins US$4.2 bln order from Nigeria

SEOUL, May 14 (Yonhap) -- Daewoo Engineering & Construction Co., a major builder in South Korea, said Thursday that its joint venture with two foreign partners has won a 5.18 trillion won (US$4.2 billion) order to build a liquefied natural gas (LNG) production train in Nigeria.

Daewoo E&C said its joint venture with Italy's Saipem SPA and Japan's Chiyoda Corp. will carry out the whole process of engineering, procurement and construction of the Train 7 project for Nigeria LNG.

Daewoo E&C said the project is set to be completed in Bonny Island, Nigeria in 66 months after starting construction.

The plant will have an annual production capacity of 8 million tons of LNG.

Daewoo E&C said its stake is worth about 2.06 trillion, accounting for about 40 percent. The rest is held by Italy's Saipem and Japan's Chiyoda.

entropy@yna.co.kr
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