South Korea's Daewoo Electronics said on November 29 that it has won a 200 million dollar contract to build an electronics manufacturing facility in the United Arab Emirates.
Daewoo said the new facility with an annual production capacity of more than one million units including refrigerators and washing machines would be one of the largest electronics plants in the Middle East.
The contract was awarded by National Industries Complex, a UAE-Jordan joint venture, it said.
"This contract will further solidify our position in the Middle East market," Daewoo Electronics CEO Lee Seung-Chang said in a statement. Daewoo plans to complete construction of the facility in Abu Dhabi by the first half of 2008.
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