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Daewoo E&C signs deal with Coteccons to expand in Vietnam's construction market
Daewoo Engineering & Construction Co., Ltd. (Daewoo E&C) announced on July 19 that it has signed an MoU on international cooperation with Coteccons Construction JSC.
The two sides aim to develop project opportunities in the construction sector across the global market, including Vietnam.
Daewoo E&C and Coteccons will cooperate on large engineering, procurement, and construction (EPC) projects in Vietnam released by the public sector or government-related entities, as well as other EPC projects in the global market.
Established in 1973, Daewoo E&C has contributed to the economic development of S Korea as well as the world, and is a leading enterprise in its domestic construction industry. With continuous innovation and modern technology, Daewoo E&C has successfully invested in and developed many quality projects globally, including architectural, civil engineering, petrochemical, and power generation activities.
In addition, Daewoo E&C has chosen Vietnam as a key market to expand its business, realise real estate development projects, and contribute to creating a modern and spacious urban appearance for Vietnam.
Jung Won Ju, chairman of the Board of Directors at Daewoo E&C, said, “In the international market, we are constructing factories and infrastructure projects. In Vietnam, we consider this a key market to expand the construction market, build new cities, develop cold storage and data centres using LNG refrigeration, and build shares in the LNG power plant business and renewable energy. We hope that this MoU will open opportunities for both companies to cooperate overseas in various fields, such as construction and real estate development, infrastructure, and factory construction, contributing significantly to building the value chains of our group.”
The cooperation between Daewoo E&C and Coteccons promises to have positive impacts, marking the companionship of two leading construction enterprises in Korea and Vietnam on their journey to create green, clean, sustainable, safe, and more meaningful developments.
Bolat Duisenov, chairman of the Board of Directors at Coteccons, shared, “The MoU marks an important milestone in Coteccons’ journey as it formalises a strategic partnership with Daewoo E&C. Operating on the principles of transparent cooperation and mutual benefit, I believe that this cooperation will bring about important achievements and set new standards in the construction industry to jointly build a future that is not only prosperous but also sustainable and comprehensive.”
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