Daewoo E&C chairman seeks bigger footing in India

Daewoo Engineering & Construction's Chairman Jung Won-ju, who doubles as vice chairman of Jungheung Group, met with India’s top government officials to tap into new infrastructure project opportunities in the country, the South Korean builder said Thursday.

On Friday, Jung met with Dammu Lavi, the secretary for economic relations at the Ministry of External Affairs of India, in New Delhi, to express Daewoo E&C's interest in participating in projects while highlighting the company's previous contributions to India's economic growth, such as the construction of bridges in Mumbai and Bihar.

In response, Lavi affirmed the Indian government's keenness to enhance its infrastructure facilities and assured Jung that if Daewoo E&C commits to the Indian market, the government will provide full support.

On Feb. 1, the chairman visited the headquarters of the National Hydroelectric Power Corporation in New Delhi.

Jung held a talk with Raj Kumar Chaudhary, the firm's executive director of technology, to discuss matters pertaining to the company's hydropower projects in India.

Jung underscored that Daewoo E&C has successfully executed eight projects in India since its entry to the country in 1992, encompassing civil engineering, power generation and hydropower, such as the NHPC-commissioned hydropower project in 1999.

In addition, Jung expressed Daewoo E&C's admiration for the growth potential of the Indian construction market and its eagerness to actively participate in NHPC's hydropower and renewable energy projects.

Figures Jung met during his visit to India from Jan. 31 to Tuesday include Jang Jae-bok, South Korea’s ambassador to India, from whom Jung requested support for Daewoo E&C's local endeavors, and CEOs of construction and real estate companies in India such as M3M, BIRLA Group and Oberoi Realty.

Daewoo E&C said it plans to diversify its business portfolio and increase its involvement in various sectors, from hydroelectric power generation, renewable energy and real estate developments to infrastructure constructions, in India.

"India, as the world's most populous country, is expected to offer a vast market in the construction sector due to its rapid economic advancement," said an official from Daewoo E&C.

“Leveraging its extensive experience and competitiveness in construction, Daewoo E&C aims to emerge as a leading global developer in the Indian market."