The UAE has emerged as the biggest market for South Korean construction companies in the first three months of this year, according to figures from the Korea International Trade Association.
In March, Doosan Heavy Industries and Construction won a US $1.14 billion (AED4.2 billion) contract from the Dubai Electricity and Water Authority to build M Station in Jebel Ali, and followed up on this earlier this month with the $510.5 million contract to provide equipment for phase two of the project.
Sungwon Corporation also clinched a deal earlier this week with Deira Investment for a $5.5 billion project to redevelop an area of ‘old’ Dubai. It plans to form a consortium with four to five Korean contractors to execute the development.
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