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Daewoo Engineering signs MOU in Laos

PUBLISHED : June 16, 2017 - 13:45

UPDATED : June 16, 2017 - 13:45

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[THE INVESTOR] Daewoo Engineering & Construction has inked an initial agreement with a Laotian partner for infrastructure projects, the builder said on June 16.

On June 15 in Vientiane, Daewoo signed a memorandum of understanding with Petroleum Trading Lao Public to build hydroelectric power generation facilities in the Mekong River, sea ports and special economic zones, the company said in a statement.

The state-run Korea Development Bank and the Korea Trade Insurance Corp. also signed an MOU with Laos’ second-biggest petroleum and trading company to provide loans and insurance guarantees, respectively, to local construction projects, a company spokeswoman said.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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