New CI Symbol of Limitless Growth
Daewoo E&C celebrates 38 years in business with new logo to spur overseas growth momentum
Daewoo Engineering and Construction Co. has issued a new corporate identity (CI) on the occasion of its 38th founding anniversary on Nov. 1, the company said recently.
The new CI signifies the company's continuity and identity by adding the letter D to the existing logo, retaining its blue color, the company said.
The CI has been styled after the Belt of Moebius, a symbol of limitless growth and continuity, with the letter D of Daewoo to show the challenge and passion that Daewoo E&C has been displaying in its march overseas to secure construction projects in all corners of the world. Its three belts stand for technology, talented personnel, and the symbol of its future, ultimately in harmony with its development.
The color of the symbol is meant to show trust, stability, and high technology in thick blue and, at the same time, to show creative change and a futuristic image by using gradation technology, the company said.
Officials of the company said the new CI's concept is meant to show Daewoo E&C's performance over the past 38 years in operation as representative of Korea's construction industry with its creativity and challenging spirit, and to show a global leader creating values with technology and talented people, and the company's dynamic and encouraging morale in its advancement into the global construction market.
It took nine months to complete the new CI from its inception, design, the collection of public opinions, and surveys to decide on the final product with the participation of all officers and staff of the company in one way or another.
The public relations team used the anniversary occasion as an opportunity to give momentum to the uniting of all officers and staff, including the construction crews in the field, and the new CI would be a springboard for the company to forge a hopeful future and a symbol of confidence for its future development.
In the meantime, Daewoo E&C has secured a gas power generation plant construction project from OPWP, a hydro-power company in Oman, worth $1.23 billion, the largest single project that the company has so far landed in the Middle East, as a member of a consortium whose members include Marubeni Corp. of Japan, Chubu Power of Japan, QEWC and a local Omani engineering company, among others.
The special-purpose company's ownership is shared by Marubeni, which holds a 50 percent stake, Chubu Power retaining 30 percent, QEWC with 15 percent, and Multitech with 5 percent.
Daewoo will take charge of key phases of the project from engineering to procurement and construction. The company signed an official contract with Marubeni for the construction of the power plant on Oct. 20.
The project will have two stages. The first stage to be completed in 2013 will involve the construction of the 400Mw electricity-generating facilities. The entire project will be finished in 2014 with the completion of the gas power-generating facilities of from 1,500Mw to 2,000Mw in capacity.
Daewoo had to beat rival bidders including Siemens, Mitsui of Japan, and companies from Singapore and Turkey.
Daewoo set a target of securing $5.3 billion in construction project orders for this year, up from $3.4 billion last year. In the first half, the company got a total of $1.486 billion in construction orders, including a six-star hotel project in Kuala Lumpur, Malaysia, and five other projects. The new order in Oman will bring the company's total overseas project orders to $2.716 billion, about 80 percent of the target for this year. nw
The new corporate identity for Daewoo Engineering and Construction Co.
President Seo Jong-wook of Daewoo E&C waves the company flag during its 38th founding ceremony on Nov. 1 at the head office in Seoul.
Photo on courtesy of Daewoo E&C