Daewoo Wins Libyan Power Plant Project

South Korea's Daewoo Engineering and Construction Co. said that it has won a major power plant project in Libya. Daewoo signed a contract in Tripoli with the state-run General Electricity Company of Libya to build a 750MW power plant in Zwitina, some 140 km southwest of Benghazi, for US$438 million. The project will start in November this year and is to be completed by May 2013, the company said.

It is the fourth major power plant contract Daewoo has won in Libya since 2003. Libya is one of the largest construction markets for South Korea - South Korean firms are currently working on civil engineering contracts worth more than nine billion dollars, according to the International Contractors Association of Korea.- TripoliPost