Daewoo Engineering & Construction Co., one of South Korea’s leading builders, said Wednesday that its consortium has won a US$765 million order to build a fertilizer plant in Nigeria.
Under the deal with Indorama Eleme Fertilizer and Chemicals Ltd. on Tuesday, Daewoo E&C and its consortium partner Toyo Engineering Corp. will build the facility at Port Harcourt in southern Nigeria.
Daewoo said it expects to complete the plant 34 months after starting construction but did not specify when the project will start.
Toyo has said on its Web site that the proposed facility is scheduled to begin operations by the last quarter of 2015.
The facility will produce 2,300 tons of ammonia and 4,000 tons of urea per day, according to Daewoo E&C.
Daewoo E&C said its stake in the project is worth $289 million while its Japanese partner holds the rest. (Yonhap News)
