Daewoo E&C Exceeds 6 Trillion Won in New Overseas Orders Last Year
[Asia Economy Reporter Yoo In-ho] Daewoo E&C announced on the 6th that it secured a total of 11 new overseas projects last year, achieving a total performance of 5.8624 trillion KRW. This exceeded last year's overseas order target of 5.0696 trillion KRW.
Starting with participation in the Hanoi Starlake City investment and development project in Vietnam (344.5 billion KRW) in January last year, Daewoo E&C successively secured the Nigeria Liquefied Natural Gas (LNG) Train 7 project (2.0669 trillion KRW) in May, the Jurong Urban Railway construction in Singapore (155 billion KRW) in July, and the Panling Bypass Road construction in Hong Kong (125.1 billion KRW) in August.
Last month, Daewoo E&C exceeded its order target by securing all five follow-up contracts for the Al Faw New Port project in Iraq (2.8696 trillion KRW) through direct contracts.
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A Daewoo E&C official stated, “Along with securing high-quality overseas projects last year, we also achieved good results in domestic housing projects and other sectors, so we expect to smoothly achieve the overall order target of 12.8 trillion KRW. Starting this year, housing sales performance will be reflected in revenue and operating profit, so we anticipate improved earnings.”
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