From The Economic Times · ET Bureau · · 1m
Gulf states seek new routes around Strait of Hormuz
Saudi Arabia and UAE plan pipeline and storage expansion, creating opportunities for Indian engineering firm.
In brief
Saudi Arabia and UAE plan pipeline and storage expansion, creating opportunities for Indian engineering firm. Gulf states are investing in alternative export infrastructure to reduce dependence on the vulnerable Strait of Hormuz. Originally reported by The Economic Times.
EIL spots Gulf opportunities
Engineers India Ltd sees new business prospects as Saudi Arabia and UAE expand pipeline and storage infrastructure.
Reducing Hormuz dependence
Gulf states want to cut reliance on the Strait of Hormuz for oil exports by developing alternative routes.
Iran war heightens urgency
The Iran conflict, ongoing for over six months, has nearly closed the Strait and increased pressure for new export options.
Infrastructure damage and repair
The war has damaged energy infrastructure in the region. Some facilities are now being restored.
Conflict creates business openings
EIL chairman Atul Gupta says the regional conflict has definitely opened up more opportunities from the Gulf.
“This conflict has definitely opened up more opportunities from the (Gulf) region”
What it means
Gulf states are investing in alternative export infrastructure to reduce dependence on the vulnerable Strait of Hormuz.
