Daewoo Engineering & Construction announced Monday that the South Korean builder has signed a memorandum of understanding with ERBUD, Poland’s third-largest construction firm, to carry out new projects in the European country, including the construction of nuclear power plants.
The partnership was inked Friday in Warsaw as representatives from Daewoo E&C accompanied President Yoon Suk Yeol on his trip to Europe as members of the presidential delegation.
The new partnership came in line with an agreement made during a summit between Yoon and his Polish counterpart, Andrzej Duda, last week, in which the leaders decided to support companies from both countries engaging in the construction of Polish nuclear power plants.
Daewoo E&C expects that the company will be able to find new business opportunities in Poland and nearby regions under the new partnership.
“(The company) will be able to secure new construction projects in a wide range of sectors through partnerships with ERBUD and other companies in the country,” Daewoo E&C said in a statement.
Daewoo E&C has been expanding its network in Poland over the past few years. Previously, the company signed memorandums with local engineering and construction companies such as Polimex Mostostal in June 2022 and Budimex in November 2021.
“Daewoo E&C, together with Korea Hydro & Nuclear Power, has been preparing to enter the Polish nuclear power market. The latest memorandum will become an important foundation to build a network with Polish construction firms,” an official from Daewoo E&C said.
“Thanks to the government's support, Daewoo E&C will secure new business opportunities in the growing Polish construction market and hopes to contribute to South Korea’s economy,” the official added.
Meanwhile, Daewoo E&C on Friday also participated in a three-way meeting of construction companies from South Korea, Poland and Ukraine, where they discussed measures to rebuild war-torn cities in Ukraine.
