Daewoo E&C wins $261m Nigeria fertilizer plant contract

Daewoo Engineering & Construction has secured a major petrochemical project in Nigeria, reinforcing its competitiveness in the global plant construction market.

Daewoo E&C said Wednesday it received a letter of award from IF FZE, the Nigerian subsidiary of global petrochemical group Indorama, for the Indorama Fertilizer Train 4 Project.

The project involves constructing a facility in Port Harcourt, Rivers State, Nigeria, capable of producing 2,300 tons of ammonia, 4,000 tons of urea and 4,000 tons of urea crystals per day. Daewoo E&C will serve as the prime contractor, with the contract valued at around 350 billion won ($261 million).

The award is particularly significant as it follows the company's successful completion of Indorama Fertilizer Plant Units 1, 2 and 3, along with associated facilities including feedstock reforming and power generation units. "We were selected as contractor again based on our stable project execution capabilities and our long-standing cooperative relationship with the client, reaffirming our competitiveness in the petrochemical plant market," the company said.

Unit 3, successfully completed May 30, was a key factor in securing the follow-on contract. Daewoo E&C finished critical milestones ahead of the original schedule on that project, demonstrating strong construction and project management capabilities. Early operation and on-time completion built the client's confidence and played a major role in winning the consecutive contract for the next unit, the company said.

Daewoo E&C plans to draw on its extensive construction experience and solid local network in Nigeria — one of its core markets — to deliver the highest-quality plant. Since entering the Nigerian market in 1983, the company has carried out 75 projects worth about $10.8 billion. Across the African continent, it has completed about 290 projects in 11 countries — including Libya, Mozambique, Côte d'Ivoire, Zambia and Botswana — dating back to a Sudanese state guesthouse project in 1977.

Daewoo E&C is also continuing to rack up major overseas plant wins this year, having been named preferred bidder for an LNG project in Mozambique and a gas processing plant project in Papua New Guinea, with both contracts pending finalization.

The company plans to steadily expand its participation in high-value LNG and petrochemical plant projects, focusing on proven core markets such as Nigeria, Mozambique and Papua New Guinea, in line with growing global demand for energy infrastructure.

"This letter of award is the result of Daewoo E&C's technology and project management capabilities being officially recognized once again," a company official said. "We will actively pursue follow-on projects not only in Nigeria but also across Africa and global markets, and continue to secure sustainable growth drivers."

Meanwhile, Daewoo E&C is the only South Korean construction company with the capability to execute all three types of offshore gas processing — central processing facilities, liquefaction plants and receiving terminals.