China State Engineering Corp eyeing reconstruction market in Iraq and Syria

China State Engineering Corp is eyeing all kinds of contracts including, civil construction, road building, groundworks, oilfields pipeline work.

An executive from China State Engineering Corp stated, it is eyeing more opportunities for oil projects in Iraq, Saudi Arabia and Oman.

China State Engineering Corp’s Middle East headquarters is located in the United Arab Emirates. It operates in all six Gulf Arab states, including Iraq. It has also sent teams to Syria in the past.

While it has won civil engineering and groundwork contract in the past, it is also interested in pipeline projects in Iraq.

“We are paying more attention to the oilfields because that is the core business of Iraq,” said China State Engineering Corp Middle East’s CEO Yu Tao.

“I think we should be able to sign at least one contract a year.”

The Chinese construction firm is also eyeing major infrastructure projects in Iraq.

According to Yu, the company is unlikely to get involved in projects outside Iraq’s oil industry until it sees an improvement in safety.

It is eyeing large projects in Oman and Saudi Arabia, including building roads and could partner with Omani companies to enter that market.

“Hopefully we will have a breakthrough this year,” said Yu.

For construction companies, countries such as Iraq and Syria present an opportunity since they have to be rebuilt following years of war.

Yu believes, foreign construction companies will enter Syria within the next five years to start rebuilding the country. At present the situation remains unclear.

“It is just a matter of time,” said Yu.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

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