BUSINESS

Daewoo E&C wins $963m plant deal from Oman

By Catherine Chung
  • Published : Aug 7, 2017 - 13:45
  • Updated : Aug 7, 2017 - 13:45
Daewoo Engineering & Construction Co., a major South Korean builder, said Monday that it has clinched a $963 million deal to build process units of refinery facilities in Oman.

Under the deal with Duqm Refinery Petrochemical Industries Co., a joint venture between Daewoo Engineering and Tecnicas Reunidas of Spain will carry out the $2.75 billion project to construct the facilities at Duqm, located in the southern part of Oman.

(Yonhap)

Daewoo Engineering & Construction holds a 35 percent stake in the joint venture.

Located in the Duqm Special Economic Zone, the refinery project will have a refining capacity of around 230,000 barrels of oil per day. (Yonhap)