[THE INVESTOR] Daewoo Engineering & Construction said on Jan. 9 it has received a US$193 million order to build a multipurpose dam in the Philippines.

The Korean builder secured the order from the National Irrigation Administration last week and plans to build three multipurpose dams and related facilities at the Jalaur River in the Iloilo Province in the next 46 months, the company said in a statement.

To help push forward the project, the Export-Import Bank of Korea has signed a deal with the Philippine government to extend a US$200 million loan to the NIA, it said.

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