Petroleum Africa
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Tuesday, January 16, 2007
Daewoo Engineering & Construction Co., South Korea’s largest builder, announced on January 15 that it plans to enhance security at its construction sites in Nigeria, where nine company employees were kidnapped and then released by Nigerian militants last week. Daewoo temporally withdrew its workers and construction equipment from a gas pipeline construction site in the southern state of Bayelsa where the kidnappings took place.
The company will cooperate with local authorities to implement security checks on its construction site in Bayelsa state and will do the same for eight other construction sites in the country, according to one Daewoo official. He added that the company will not leave the Nigerian market since its sales in the country represent 70% of its total overseas revenue in 2006 alone.
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