The South Korean-based Daewoo Engineering and Construction Corporation has won a $709m gas pooling project in Iraq.
Under the deal signed with the Korean Gas Corporation’s affiliate KOGAS, Daewoo will construct a gas pooling system, natural gas-processing facilities in al-Anbar province in northwest Iraq.
The company’s statement, quoted by the South Korean News Agency (Yohap) said that construction operations takes 47 month from beginning to end. The agency added that Daewoo is expected to invest huge funds in Iraqi energy, facilities and infrastructure projects, as part of Iraqi reconstruction efforts and to win more deals in future.
An official source from Daewoo Corporation said that Daewoo company enters the Iraqi construction market for the first time, adding that the company will carry out market activities abroad for instance in Iraq.
