Daewoo Shipbuilding & Marine Engineering agreed to cooperate with the government of Oman to build and run a repair dock in the Middle East country. The new facility will be the biggest of its kind in the region and will be big enough to accommodate the largest oil tankers. According to the contract, the government of Oman can consult Daewoo Shipbuilding in building the repair dock and run the facility on commission under Daewoo's name.
The Korean company said it will be able to not only earn a profit directly from providing consulting service, which is estimated to amount to $8 million in 10 months, and from lending its brand, but also offer quality service to clients who navigate in the region. The company announced in May its aim to reach sales of 20 trillion won by establishing a global network. It currently runs a shipyard in Mangaliam (Romania) and plans to build a sections yard in Chine where ship sections will be made.