By Park Jin-hai
Daewoo International, one of Korea's biggest trading companies, says power infrastructure projects will be the next driving force behind its growth.
In a roadmap drawn up in September, CEO Jeon Byeong-eal designated power plant construction as one of six core tasks the company will focus on for sustainable growth, together with overseas energy development, food, mineral, steel and auto parts businesses.
The company’s power infrastructure projects cover all three areas: investment in and operating power plants, building power plants and supplying equipment.
“Based on our networks with affiliated companies, we have been building power infrastructure in all three areas since early 2000,” a company spokesman said.
The company has more than 100 global networks over 60 countries.
“We have played the role of an organizer, making business plans work both for us and our affiliates, and supplying equipment,” the spokesman said. “Because local companies have price and quality competitiveness in the fields of engineering, procurement and construction and equipment, we see great business opportunities.”
Now the company says it is ready to become a “global power provider,” investing in overseas power companies as well as operating and building power plants.
Worldwide power capacity is projected to increase 34 percent between 2011 and 2020, with emerging markets playing a major part in the growth.
In February the company won a $1.4 billion power plant construction project in Algeria, following a similar $1 billion worth project it won in November 2012.