Arabtec to open office in Baghdad
Dubai, January 29, 2014
Arabtec Holding, a leading engineering and construction group in the Mena region, has planned to open an office in the Iraqi capital, Baghdad.
The announcement comes as part of the company’s business growth strategy to diversify into higher-margin segments, particularly in oil and gas infrastructure.
The office will serve as a platform for expansion by Arabtec Holding’s joint ventures and subsidiaries, in what is expected to become the the region’s most lucrative construction market. Arabtec is already in advanced discussions with a number of clients in Iraq for large-scale projects in its target sectors.
The expansion follows its newly formed JV with Samsung Engineering and the soon to be announced venture with GS Engineering and Construction.
Hasan Abdullah Ismaik, managing director and CEO, said: “We see great potential for Arabtec in Iraq. Our physical presence there will enable us to capitalise on the significant new business opportunities that are available particularly in oil and gas and infrastructure.
“We are already in talks with the Iraqi Government over a number of mega projects. These talks are at an advanced stage and we hope to announce the results in the very near future.” - TradeArabia News Service