Daewoo Engineering & Construction (Daewoo E&C) received a letter of intent that gives the company the preferred bidder status for the EPC main contractor for LNG Train 7 in Nigeria on Sept. 11.
It is the first Korean builder to participate in the LNG liquefied plant EPC sector, which has been considered as a monopoly market for some global builders, a Daewoo spokesman said.
Nigeria LNG Train 7 is a project to build a LNG-producing plant and auxiliary facilities with an annual capacity of 8 million tons. Daewoo E&C will form a joint venture with Saipem and Chiyoda to carry out all tasks, including design, purchase, construction and test operations. Daewoo E&C is participating in the joint venture at about 40 percent of the total EPC amount.
Most of all, the order is significant in that Daewoo E&C has secured its main contractor status in the LNG liquefied plant market, which has been monopolized by some global builders, for the first time in the domestic construction industry.
During the bidding process, Daewoo E&C joint venture had a fierce competition with other competitors in FEED (basic design) evaluation, technology bidding evaluation, and price bidding evaluation.
However, Daewoo E&C's business experience, resources, and performance plan, which are recognized as the best construction company in Nigeria, have been highly evaluated, the spokesman said.
"The order will serve as an opportunity to confirm our company`s continued leap into a global construction company by carrying out key strategies and innovation work," he added.
