South Korean engineering and construction giant Daewoo announced signing a contract with the General Electricity Company of Libya (GECOL) to build gas-fired power plants in Libya.
According to the Korea Herald, the value of the construction deal is $790 million. Under the agreement, Daewoo will build gas-fired power plants in Mellitah and Misurata.
The company said in a statement on Friday that the recent signing of the construction of these stations was important and it became possible thanks to the company’s efforts and strategy to support its close relations with Libya and contribute to expanding work in Libya as well as neighboring countries.
Daewoo entered the Libyan market in 1978, even before the establishment of diplomatic relations between South Korea and Libya, and since then, the company has completed 163 projects across the country, with an estimated total value of $11 billion.