South Korea's Daewoo E&C Wins US$443 MLN Oman Shipyard Order

SEOUL, Jan 23 Asia Pulse - South Korea's biggest builder Daewoo Engineering & Construction (KSE:047040) said Wednesday it has clinched a US$443-million order to build a shipyard in Oman jointly with an Oman-based builder.

The ship repair yard is to be built in Duqm, a port city of Al Wusta on the southeastern coast of Oman, Daewoo Engineering & Construction said in a regulatory filing.

Daewoo Engineering & Construction holds a 59.07 per cent stake in the order, equivalent to US$262 million; Galfar Engineering and Contracting Co. has the rest, the South Korean builder said.

However, the company did not disclose when it will start the construction of the ship repair yard.

Source:RamblerNews