Daewoo Engineering and Construction Company has been awarded a $730 million contract by Ashghal, the public works authority of Qatar, for the extension of the E-Ring expressway in Doha.

According to the terms of the deal, the South Korean company will be sole contractor of the project and will be expected to complete the work in 42 months, a report in Business Korea said.

Work on the project involves the 4.5km extension of the expressway connecting the southern parts of Doha, as well as the addition of 4km-long roads, with eight to 14 lanes, and three multi-level intersections.

Citing a Daewoo E&C spokesperson, the report added that the project would have high profitability in the future due to high construction costs, as the project has three multi-level crossing interchanges.

Following its entry into Qatar in 2005, the South Korean giant has won a total of five projects worth $3 billion.