Daewoo wins US$252 mln order from Algeria

Daewoo Engineering & Construction, South Korea's fourth-largest builder, said Monday it has clinched a US$252 million deal to build a container terminal in Algeria. Under the deal, Daewoo Engineering will set up the terminal with a capacity of up to 14,000 20-foot-equivalent units (TEUs) at Jen Jen port on the eastern part of the African country, according to the company. The project will begin in March next year for completion in September 2014, the builder said. Separately, Daewoo Engineering is conducting a $145 million port expansion project at Jen Jen. The builder has so far won similar deals from Algeria that amount to $1.7 billion in total. The company's overseas orders have reached $3.4 billion so far this year.