Daewoo Engineering & Construction Co., a major builder in South Korea, said it has won a US$86 million order to set up a prefabrication yard for a tunnel project in Iraq.
Under the deal with the General Company for Ports of Iraq (GCPI), Daewoo E&C will build the Khor Al-Zubair immersed tunnel prefabrication yard by October 2021.
The deal is the fourth construction project that Daewoo E&C bagged in Iraq this year. Since March, the builder has secured $460 million worth of orders in Iraq, including road and terminal construction projects.
The latest order is the first stage of Iraq’s immersed tunnel construction project that aims to connect the Umm Qasr and Al Faw regions in the southern part of the country. Daewoo E&C said it also aims to win the tunnel construction order expected to be placed next year.
Daewoo E&C is the No. 5 builder in South Korea in terms of building capacity. Meanwhile, Daewoo E&C president Kim Hyung directly took care of activities to land the order for the immersed tunnel in Iraq. In addition, the contractor won the fourth-order this year in Iraq alone as it won orders for the construction of an additional breakwater (March), the first phase construction of a container terminal (April) and the construction of an access road (August). Its total contracts amounted to US$460 million.