South Korea’s Daewoo Engineering & Construction Company has been awarded a contract worth 805.1 billion won ($730 million) by Ashghal, the public works authority of Qatar, for extension of the E-Ring expressway in capital Doha.

As per the contract, Daewoo E&C will be the sole contractor of the project, and will complete the work in 42 months, reported Business Korea.

The project involves the extension of the expressway connecting the southern part of Doha by 4.5 km as well as adding 4-km-long roads with 8 to 14 lanes and three multi-level intersections.

Although the project is the construction of the 8.5-km section of the road, it has a high profitability in the future due to a large amount of construction costs as it has three multi-level crossing interchanges, said the report citing a Daewoo E&C spokesaman.

The company has so far won a total of five projects worth 3.27 trillion won ($3 billion) in Qatar after entering the market in 2005.