Daewoo Engineering to build oil storage tanks in UAE for $1.17 bln

By Nam Kwang-sik
SEOUL, Nov. 20 (Yonhap) -- Daewoo Engineering & Construction Co., South Korea's
fourth-largest builder, said Friday that it has clinched a US$1.17 billion deal
to build oil storage tanks in the northern part of the United Arab Emirates.

Under the deal with Takreer, a unit of Abu Dhabi Oil Refining Co., the tanks will
be built in Ruwais, a city 250 kilometers west of Abu Dhabi, by February 2014,
the South Korean company said in a regulatory filing.
ksnam@yna.co.kr
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