Daewoo E&C Wins $2.9 Trillion Contract for Al-Faw New Port Construction in Iraq
[Asia Economy Reporter Kim Eunbyeol] The Iraqi government is reported to have agreed to sign the first-phase contract for the AlFaw New Port construction with South Korea's Daewoo Engineering & Construction.
According to foreign media on the 23rd (local time), Daewoo E&C will be in charge of the first-phase construction of the AlFaw New Port in Basra Province, southern Iraq, with the contract expected to be worth $2.625 billion (approximately 2.9 trillion KRW).
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Daewoo E&C has already secured orders for the first-phase works of the AlFaw New Port, including breakwater construction, the creation of an immersed tunnel fabrication yard connecting the Umm Qasr area and the Al Faw area, and access road construction.
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