Daewoo Engineering & Construction Co., a major South Korean builder, said Tuesday that it has won an US$82 million deal to construct a highway in Ethiopia.
The deal signed with a local state-run road management company calls for Daewoo E&C to design and build a 37-kilometer, four-lane highway that links Meki to Zeway, two regions in the African country, the company said in a press release.
It will be financed through loan programs from the Seoul government-run Economic Development Cooperation Fund and the African Development Bank, the company said.
Daewoo E&C expects that the new road will help strengthen the logistical network in the country and also boost regional economic growth. [yonhapnews]