Daewoo collects power build

Daewoo Engineering & Construction Co Ltd has been awarded a US $847 million (LRD52 billion) contract to build power plants in Libya from the General Electricity Company of Libya (GECOL).

Daewoo Engineering & Construction Co Ltd has been awarded a US $847 million (LRD52 billion) contract to build power plants in Libya from the General Electricity Company of Libya (GECOL). Under the deal, the South Korean company will build two 750MW power plants in the regions of Misurata and Benghazi. The Misurata deal is valued at $453 million and construction is expected to be completed by February 2011. The Benghazi plant is worth $394 million and will be completed by March 2010. The company received a letter of acceptance from GECOL for the turnkey projects last November.

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