South Korean builder Daewoo E&C has signed a deal to expand and build an expressway in Qatar, the company said Thursday.
Under the deal, signed Wednesday in Qatar, the South Korean construction firm will add a 4.5-kilometer extension to the country's E-Ring expressway, while also building 4 kilometers of roads with three multilevel intersections.
A rendering of E-Ring expressway (Daewoo E&C)
The South Korean firm was initially awarded the project in 2016 for $730 million.
But after changes to the original plan, the deal was signed this week for $590 million won, according to company officials.
"With the deal signed this week, the company now has a strong chance to win additional projects ahead of the 2022 FIFA World Cup in Qatar," an official said.
The construction for the E-Ring expressway is expected to take 42 months. Company officials said the groundbreaking will take place later this month. (Yonhap)
