GS Engineering wins US$67.8 mln order from Bangladesh

SEOUL, Aug. 1 (Yonhap) -- GS Engineering & Construction Corp., South Korea's third-largest builder, said Monday that it has clinched a US$67.8 million deal to lay 400-kilovolt power transmission lines in Bangladesh. Under the deal with Power Grid Company of Bangladesh, GS Engineering will build a 170-kilometer power line from the Bibiyana gas field, northeast of the country, to Kaliakoir on the outskirts of its capital Dhaka. GS Engineering said it will begin the construction in October and complete the project by March 2014. The South Korean builder said that it has carried out four power transmission line projects in Bangladesh. "The latest project will help tap deeper into the 400-kV power line market," said an official from GS Engineering. The company reported a 21 percent on-year rise in its second-quarter earnings last week, with sales going up 0.46 percent to 2.05 trillion won.