Algiers, Seoul Affirm Support for Korean Company Projects
Algerian and South Korean governments have reviewed ongoing construction projects by major South Korean firms Hyundai E&C and Daewoo E&C, reaffirming their commitment to accelerate and successfully complete these ventures.
Officials from the Algerian and South Korean governments convened in Algiers to assess the progress of significant construction projects undertaken by South Korean companies Hyundai E&C and Daewoo E&C in Algeria. The meeting, held on November 9 at the Algiers government building, involved Algerian Minister of Energy and Renewable Energies Mourad Adjal, South Korean Ambassador Min Kyung-tae, and representatives from Hyundai E&C. Discussions centered on methods to accelerate these major initiatives and ensure their successful completion, underscoring a mutual commitment to strengthening the economic partnership between the two nations.
Among the projects reviewed was Hyundai E&C's Oumache 3 combined cycle power plant, a venture awarded in 2020 as part of a consortium with Hyundai Engineering and Posco International. Valued at approximately $730 million, this project aims to construct a 1300 MW power plant in the Oumache area of Biskra province, situated 340 kilometers southeast of Algiers. This significant energy infrastructure development highlights ongoing cooperation in vital sectors.
Daewoo E&C's portfolio in Algeria included the Boughezoul New City project and the El Harrach River rehabilitation. The Boughezoul New City, a South Korean-style complex spanning about 60 million square meters, was designed to accommodate 350,000 residents across housing, business, and research facilities. Daewoo E&C served as the lead contractor for the initial site development phase, commencing in 2008, and later secured a contract in 2012 for the construction of the New City's government building. This extensive urban development project was successfully completed earlier this year.
Additionally, Daewoo E&C was involved in the El Harrach River rehabilitation project, which entailed restoring an 18-kilometer section of the river passing through Algiers, from its estuary. This initiative, with a contract value of approximately 400 billion won, focused on improving water quality and creating recreational and cultural spaces for citizens. Both Algerian and South Korean officials emphasized the ongoing importance of high-level exchanges to bolster their economic ties and reiterated their support for South Korean companies to ensure the successful execution of these major projects in Algeria.
