Engineers India, a state-run Indian engineering company, says plans by Middle Eastern countries to develop alternative routes around the Strait of Hormuz could create new business opportunities for the company.
Saudi Arabia and the United Arab Emirates are planning projects including oil pipelines, terminals and marine infrastructure to reduce their dependence on the Strait of Hormuz.
Engineers India Chairman Atul Gupta said the company has seen a slowdown in new orders from the region, but the Iran war has created additional opportunities.
Gupta said the company’s current order book is worth 170 billion Indian rupees, and is expected to grow as the situation in the Middle East improves.
