South Korea: Daewoo Wins $ 438 Million Power Plant Deal in Libya

Libya – Daewoo Engineering & Construction Co., South Korea’s No. 4 builder, said Friday it has won a 510 billion won (US$438 million) deal to build a power plant in Libya.

Under the deal with General Electricity Co. of Libya, Daewoo Engineering will build the plant in Zwitina, southeastern Libya, by May 2013, South Korean news agency (Yonhap) reported.

The deal came amid worsening diplomatic ties between South Korea and Libya over a controversial spy case, which could put massive construction projects carried out by South Korean firms into trouble…read more


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