Daewoo E&C is accelerating its push into Iraq's infrastructure projects.
Daewoo E&C announced on the 20th that Minister of Oceans and Fisheries Cho Seung-hwan and Daewoo E&C President Baek Jeong-wan visited the Al Faw port construction site in Iraq on the 14th to discuss ways to expand the entry of Korean companies and the port operation project promotion plan of the 'K-Consortium (Daewoo E&C, Busan Port Authority, SM Line Gyeong Terminal)'.
The K-Consortium was established in July last year at the request of the Iraqi side to transfer Korea's large-scale port construction and operation know-how. Daewoo E&C hopes to participate in the construction of the first terminal's 5 berths, along with the ongoing substructure and related infrastructure works at Al Faw Port.
On the 15th, Minister Cho and President Baek moved to Baghdad to meet with Iraq's Minister of Transportation Rajak Al Sadawi and Deputy Minister of Defense Jabar Al-Haidari, requesting support to expand the participation of Korean companies in Iraq's reconstruction market infrastructure projects.
At the meeting, Minister Cho said, "Korean companies have shared a 50-year history in Iraq and have demonstrated their sincerity and excellence." Iraq's Minister of Transportation Rajak Al Sadawi responded, "We have already confirmed the technological capabilities and reliability of Korean companies and always welcome their participation."
Meanwhile, Daewoo E&C has been growing the Iraq market as a hub in the Middle East by carrying out a total of 12 projects (approximately 5 billion USD) to date, starting with the Akkas CPF (Crude Oil Production Facility) construction project in August 2013, including the western breakwater of Al Faw Port, access roads, and quay wall works for the Al Faw Port container terminal. A Daewoo E&C official said, "This visit to Iraq has solidified Daewoo E&C's position in the Iraqi market."
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