South Korean company Daewoo Engineering & Construction has won a deal to build power plants in Libya.
Daewoo stated that it had signed a $790 million deal with the Libyan General Electricity Company for the Fast Track Power Plant Project in the regions of Mellitah and Misurata in Libya.
The company said, “This project aims to meet the increasing demand for electricity in the summer in Libya, which is facing a shortage of electricity due to the civil war.”
Daewoo entered Libya as the first Korean company in 1978 before the establishment of diplomatic relations between South Korea and Libya, and sought to enhance confidence with the Libyan government by implementing a total of 163 projects worth $11 billion in various fields such as power generation, petrochemicals, civil engineering, construction, and others. .
An official in the company said that this contract came as the fruits of a careful and persistent strategy for the company in Libya, which is one of its main markets. (Yonhap)