Daewoo Engineering & Construction has clinched a $730mn contract to build an 8.5-km section of multi-lane highway in Qatar.
The Korean company received an awarding letter from Ashghal, the public works authority of Qatar, which is developing infrastructure ahead of the 2022 World Cup, Korean media reported.
An existing highway located 15km south of Doha will be extended by 4.5km and a new, 4km road of between eight and 14 lanes will be built. The job involves construction of three multi-level interchanges.
Construction work is expected to take 42 months after it begins.
Daewoo has won five projects in Qatar totaling $3bn since entering the country in 2005 and the company believes it is well placed to win more infrastructure work ahead of the World Cup.
As the global construction market has been depressed from last year due to low oil prices, we have been making an effort to diversify our overseas business portfolio by winning infrastructure construction, including roads and bridges, a Daewoo official said.
This year, we have obtained projects such as highway construction in Ethiopia, bridge construction in India and highway construction in Qatar. We also expect to win more lucrative projects abroad in the second half of the year.