Korea’s Daewoo E&C In Consortium Awarded $4.3 Billion LNG Project In Nigeria

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South Korea’s Daewoo Engineering & Construction Co (Daewoo E&C) in consortium with Italy’s Saipem and Japan’s Chiyoda had received a $4.3 billion liquefied natural gas plant project in Nigeria.

The consortium approved a letter of intent with Nigeria LNG Ltd for engineering, procurement and construction of the Train 7 facility at Nigeria LNG’s liquefied natural gas plant on Bonny Island, Nigeria last Wednesday, according to industry sources.

Daewoo E&C’s share in the project is estimated at $1 billion. It will take part in the EPC project as well as carry out the front-end engineering design (FEED) work.

An LNG train is a liquefied natural gas plant`s liquefaction and purification facility. The Train 7 project is to expand the existing Nigeria LNG’s existing LNG facility to ramp up its annual production capacity from its current level of 8 million tons.

Daewoo E&C previously was the subcontractor of building five of Nigeria LNG’s six LNG trains. Daewoo E&C has worked aggressively to expand its global presence this year.

Last month, it won a $70.35 million order to build a road in the southern Basra in Iraq. The road is part of the Iraqi government’s project to build a container terminal in Al Faw New Port.

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The company also has submitted a bid to win two projects worth $1.4 billion in Mozambique, with results scheduled to be released by the end of this year.

In the first half of this year, the Korean builder bagged new orders worth 6.4 trillion won ($5.3 billion) in total.