Daewoo E&C eyes Vietnamese energy projects

Daewoo Engineering & Construction Chairman Jung Won-joo has met Vietnamese Industry and Trade Minister Le Manh Hung to discuss the Korean builder's willingness to be part of the Southeast Asian country's energy development projects, the company said Thursday.

According to Daewoo E&C, Jung highlighted Daewoo E&C’s more than three decades of experience in Vietnam and its extensive local network during the meeting with the Vietnamese delegation in Seoul on Wednesday.

"Based on our experiences and capabilities, we want to go beyond simply participating in projects as a foreign company and make a practical contribution to expanding Vietnam's nuclear power and energy infrastructure through localization," the Daewoo E&C chief said, noting the firm's role in the Dukovany nuclear power project in the Czech Republic.

"If Daewoo E&C were to participate in Vietnam’s nuclear power projects, we would go beyond simply carrying out construction work to share Daewoo E&C’s nuclear construction technology and experience while supporting local companies in enhancing their technological and quality capabilities and competitiveness."

Jung underlined that Daewoo E&C has sought to expand the participation of local firms from the early stages of project preparation by identifying local specialists and building partnerships with them.

The Vietnamese minister, along with ministry officials and representatives of state-run PetroVietnam, arrived in Korea on Tuesday for a three-day visit to attend the meeting of a Korea-Vietnam joint industrial committee.

According to Daewoo E&C, it was the only Korean construction firm to hold an individual meeting with the Vietnamese delegation during its three-day stay.

"Building on our understanding of the local market and network accumulated through our long-standing business operations in Vietnam, we are preparing to participate in energy projects including nuclear power and (liquefied natural gas) terminals," a Daewoo E&C official said.

"We will continue to explore various forms of cooperation with the Vietnamese government and businesses so that we can contribute to stable energy supplies and the expansion of power infrastructure in Vietnam."