Joined: 05 Oct 2005
Posts: 315
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South Korea 's biggest builder Daewoo Engineering & Construction Co. said Tuesday it plans to build a five-star hotel in Libya by 2010.
Daewoo Engineering & Construction said it will construct the hotel in Tripoli , the capital of Libya , following Monday's board approval to invest in Daewoo Tripoli Investment & Development Co., a joint venture with Economic & Social Development Fund (ESDF) of Libya . On May 15, Daewoo Engineering & Construction agreed to form the joint venture with ESDF for the project according to an agreement signed in 2000 between the South Korean builder and the Libyan government that involves reinvesting 25 per cent of outstanding bills from its work carried out in the country into local industry, the company said |
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