Daewoo E&C wins E-Ring expressway deal in Qatarby Jochebed Menon on Feb 2, 2017
South Korean construction company, Daewoo E&C, has signed a contract to expand and build an expressway in Qatar.
Under the deal, signed in Qatar, the South Korean builder will add a 4.5km extension to the country's E-Ring expressway, while also building 4km of roads with three multilevel intersections.
The South Korean firm was initially awarded the project in 2016 for $730m, Yonhap News reported.
But after changes to the original plan, the deal was signed this week for $590m, 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 was quoted saying.
The construction for the E-Ring expressway is expected to take 42 months. Company officials said the ground-breaking will take place later this month.