Daewoo E&C Chairman Jeong Wonju Meets Mozambique President to Discuss Local Business Cooperation

Daewoo E&C Chairman Jeong Wonju met with Mozambique President Daniel Chapo in Maputo, the capital of Mozambique, on the 18th to discuss ways to cooperate on local business projects, the company announced. Previously, the company had won a contract for a liquefied natural gas (LNG) plant construction project in Mozambique and is also considering participating in additional project bids.

During the meeting with President Chapo, Chairman Jeong stated, "Since Daewoo E&C first entered Africa in 1977, we have accumulated experience and technological expertise by carrying out more than 280 projects worth $32 billion. Based on our experience contributing to the economic development of African countries through projects such as the Kazungula Bridge construction in Botswana and Zambia and the expressway project in Ethiopia, we hope that Mozambique will achieve remarkable economic growth and become a leading global exporter of natural gas."

President Chapo said, "Mozambique is entering a period of significant change as we mark the 50th anniversary of independence. I hope Daewoo E&C will show interest not only in LNG projects but also in new city development and tourism development projects, leveraging its expertise."

Daewoo E&C Chairman Jeong Wonju (left) and Mozambique President Daniel Chapo met on the 18th to discuss overall projects including the local LNG plant. Photo by Daewoo E&C

Chairman Jeong requested cooperation to ensure the smooth progress of the ongoing LNG plant construction in Mozambique. He also asked for support in bidding for additional LNG projects. According to the company, President Chapo pledged active support.

Mozambique is known as a leading natural gas-rich country in Africa, with reserves sufficient to supply the world for about 16 years. The country is also considered to have high growth potential due to its abundant water and mineral resources. On June 16, Daewoo E&C signed a memorandum of understanding with Mozambique's state-owned oil and gas company to cooperate on gas development-related projects. Prior to this, on June 13, Daewoo E&C paid a courtesy visit to First Lady Geta Selemane Chapo and delivered supplies to support women's health and hygiene initiatives.

Daewoo E&C has constructed 11 out of approximately 90 LNG liquefaction plants currently in operation worldwide, including the Nigeria LNG Train 7 project. The company is steadily expanding its LNG plant business in overseas markets such as Mozambique, Papua New Guinea, and Oman. A company representative said, "This visit provided an important opportunity to establish a network for expanding into the African market and to promote our global competitiveness in the LNG plant sector."