Daewoo E&C resumes Zambia bridge construction
Daewoo E&C resumes Zambia bridge construction
  • Lee Jun-sung
  • 승인 2019.04.09 06:40
  • 댓글 0
이 기사를 공유합니다

Daewoo Engineering & Construction (Daewoo E&C) recently announced that the Botswana-Zambia Kazungula Bridge project, which was temporarily suspended last month due to the failure to pay construction costs by the Zambia-ordered owner, has resumed following the deposit of construction costs.

On March 28, Zambia's minister said he would immediately pay $16.72 million in unpaid construction costs, according to Daewoo E&C. In response, Daewoo E&C resumed the construction in earnest from April 1.

Under the judgment that losses were often incurred in the past due to domestic construction companies' failure to actively cope with unpaid construction costs for owners at overseas operations, Daewoo E&C temporarily halted the project to prevent possible losses in the future in the bridge project.

Under the agreement, Daewoo E&C expects other negotiations with the owner, including the ongoing construction period and design changes, to proceed smoothly.

"It is fortunate that the construction, which was temporarily suspended due to the unpaid payment, will resume quickly and we will continue to operate the site while securing as much authority as possible for the builder under the terms of the contract," a Daewoo official said.

삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • URL: www.koreaittimes.com / m.koreaittimes.com. Editorial Div. 02-578-0434 / 010-2442-9446. Email: info@koreaittimes.com.
  • Publisher: Monica Younsoo Chung. CEO: Lee Kap-soo. Editor: Jung Yeon-jin. Juvenile Protection Manager: Yeon Choul-woong.
  • IT Times Canada: Willow St. Vancouver BC, Canada / 070-7008-0005.
  • Copyright(C) Korea IT Times, Allrights reserved.