South Korean builder Daewoo Engineering & Construction said Thursday that Chair Jung Won-ju met with Mozambican President Daniel Chapo to discuss cooperation on a liquefied natural gas plant project and potential opportunities in emerging sectors.
According to the company, during Jung’s four-day visit to Mozambique from Monday to Thursday, his meeting at the presidential palace included a request for continued cooperation on Daewoo’s ongoing LNG plant project, as well as interest and support for a new LNG project bid currently in progress.
Drawing on the company’s expertise built since entering the continent in 1977, Jung emphasized that Daewoo E&C has executed around 280 projects in Africa, totaling $32 billion in value.
“Building on that experience, we aim to help Mozambique emerge as a global exporter of natural gas and achieve rapid economic growth,” Jung said.
In response, President Chapo pledged active support for the company’s future involvement. “I hope Daewoo will also leverage its development expertise in new city and tourism infrastructure projects beyond the LNG sector,” he said.
Mozambique plays a crucial role in Daewoo E&C’s LNG development strategy. It is home to one of Africa’s largest natural gas reserves, estimated to supply global demand for roughly 16 years.
On Monday, the company signed a memorandum of understanding with Empresa Nacional de Hidrocarbonetos, the state-run energy firm, to collaborate on gas-related development projects.
minmin@heraldcorp.com
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