Daewoo Engineering has secured a contract for a fertilizer plant project in Nigeria valued at approximately 350 billion won ($2.6 billion). This marks the company's continued expansion in the local plant sector, following previous contracts for plants 1 to 3.
On November 4, Daewoo Engineering announced that it received a Letter of Award (LOA) from Indorama's Nigerian subsidiary, IF FZE, for the Indorama Fertilizer Train 4 project.
The project involves constructing facilities in Port Harcourt, Rivers State, Nigeria, capable of producing 2,300 tons of ammonia, 4,000 tons of urea, and 4,000 tons of urea crystals per day. Daewoo Engineering will serve as the primary contractor, with the contract amounting to approximately 350 billion won.
Previously, Daewoo Engineering completed construction on Indorama Fertilizer Plants 1 to 3, as well as related facilities such as feedstock reforming and power generation systems. Notably, Plant 3 was completed ahead of schedule on May 30. The company attributed its success in securing this latest contract to its strong construction performance and collaborative relationship with the client.
Since entering Nigeria in 1983, Daewoo Engineering has undertaken around 75 projects totaling approximately $10.8 billion. Across Africa, the company has conducted about 290 projects in 11 countries, starting with the Sudan Guesthouse project in 1977.
Daewoo Engineering is also expanding its overseas plant contracts. This year, it was selected as the preferred bidder for liquefied natural gas (LNG) projects in Mozambique and a gas processing plant project in Papua New Guinea, with final contract negotiations underway. The company plans to expand its LNG and petrochemical plant operations, focusing on existing key markets.
A Daewoo Engineering official stated, "Receiving this Letter of Award is a recognition of our technical capabilities and project management skills. We will actively seek follow-up projects in Africa and the global market based on our accumulated know-how and local networks."
* This article has been translated by AI.
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