Daewoo E&C Chairman Jeong Won-ju's Aggressive Moves in Nigeria... "Seeking New Growth Engines"

Jung Won-joo, Chairman of Daewoo Engineering & Construction, has embarked on an extensive campaign to expand into the Nigerian market amid uncertainties in the domestic construction market.

Daewoo Construction Chairman Jeong Won-ju (middle left) is taking a commemorative photo with Nigeria's Minister of Petroleum Heineken Lokpobiri on the 16th.

Daewoo E&C announced on the 21st that Chairman Jung visited Nigeria from the 14th to the 20th, meeting key officials such as the Minister of Petroleum and the Minister of the Federal Capital Territory (FCT) to discuss local business expansion and encourage on-site employees. A Daewoo E&C official explained, "This trip aims to find new business opportunities to overcome the difficulties of the increasingly uncertain domestic construction market and grow as a global construction company," adding, "It is to fulfill the promise made at the time of inauguration to fully play the role of Daewoo E&C’s salesman."

On the morning of the 14th, Chairman Jung arrived in Abuja, the capital of Nigeria, and immediately visited Daewoo E&C’s branch office and corporation to receive reports on business status and exchanged investment-related opinions with key stakeholders who participate as shareholders in the local corporation along with employees.

On the 15th, he inspected the Centenary City new town exhibition hall and local sites in Abuja’s representative new town and discussed building cooperative relations with Anthony Elumelu, Chairman of the Air Group, the fourth largest business group in Nigeria. Chairman Jung also paid a courtesy visit to Ambassador Kim Young-chae of the Republic of Korea to Nigeria to discuss support for Daewoo E&C’s ongoing projects locally before continuing with a series of scheduled meetings.

On the following day, the 16th, Chairman Jung met with Heinenken Lokpobiri, Minister of Petroleum of Nigeria, to request cooperation and support for the ongoing NLNG Train 7 project as well as urgent repair works at refining facilities in the Wari and Kaduna regions.

Subsequently, Chairman Jung met with Niesom Wike, Minister of the Federal Capital Territory (FCT) overseeing Abuja, to explain the progress of the NLNG Train 7 and refining facility urgent repair projects undertaken by Daewoo E&C, along with various social contribution activities, and conveyed investment opinions regarding real estate development projects in the Abuja area.

At this meeting, Chairman Jung said, “I understand that the Minister has had a very close relationship with Daewoo E&C since his tenure as Governor of Rivers State,” adding, “I was deeply impressed by the new town project near Abuja, and I hope Daewoo E&C can actively participate in the new town project based on our extensive experience in developing new towns such as Hanoi New Town in Vietnam.”

Daewoo E&C Chairman Jeong Won-ju (left) met with Sanwo Olu, Governor of Lagos State, on the 20th.

On the 18th, Chairman Jung moved to Lagos, the economic center of Nigeria, and visited the site of the Eko Atlantic new town, which is being developed in the best location in Lagos State, to check the local status. He then held consecutive meetings with the Africa Head of JLL, a global real estate consulting firm, and Sanwo Olu, Governor of Lagos State, concluding discussions on expanding business areas and building cooperative relationships in Nigeria, thus wrapping up his extensive activities in Nigeria.

At the meeting with Governor Sanwo Olu, Chairman Jung said, “Daewoo E&C plans to continue efforts to expand new businesses in Lagos, Nigeria’s largest city,” requesting support. In response, Governor Sanwo Olu emphasized, “Daewoo E&C has made significant contributions to the Nigerian economy by carrying out numerous construction projects in the Nigerian market,” and added, “As Lagos is the economic center of Nigeria and has abundant human resources, we look forward to Daewoo E&C’s active participation in the Lagos market.”

This content was produced with the assistance of AI translation services.