Summary:

India’s leading engineering firms, Larsen & Toubro (L&T) and Afcons Infrastructure, are major players in West Asia’s infrastructure boom, with GCC project awards surpassing Rs. 20,07,370 crore (US$ 235 billion) by 2024. L&T’s international orders more than doubled to Rs. 2,00,000 crore (US$ 24.10 billion) in FY25, mainly from Saudi Arabia and the UAE. L&T aims for a 10% hydrocarbons and 8% infrastructure market share in the GCC by FY25 as a key Saudi Aramco contractor.

Afcons Infrastructure is bidding for Dubai’s Rs. 1,87,924 crore (US$ 22 billion) sewage project, involving tunnels, link sewers, and treatment plants. Afcons is negotiating a joint venture with two shortlisted Build-Operate-Transfer concessionaires, with a potential stake of Rs. 21,355 - 25,626 crore (US$ 2.5 - 3 billion), nearly matching its annual order intake. Regional shifts favor Indian companies as South Korean and Chinese firms scale back. Other Indian firms like G R Infraprojects and KNR Constructions are also exploring opportunities in the Gulf.

Source: IBEF

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