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China's state construction giant sees more energy projects in Iraq

2019/07/11 | 20:24

(Iraq Now News)-

China State Engineering Corp sees more opportunities for oil

projects in Iraq and is interested in expanding into Saudi Arabia and

neighbouring Gulf state Oman, a company executive said.The company‘s Middle East entity, headquartered in the

United Arab Emirates, operates in six Gulf Arab states and Iraq.

It has sent

teams to Syria in the past.It is interested in pipeline projects in Iraq having

previously won groundworks and civil engineering contracts."We are paying more attention to the oilfields because

that is the core business of Iraq," China State Engineering Corp Middle

East Chief Executive Yu Tao told Reuters"I think we should be able to sign at least one

contract a year."China‘s state construction giant is also looking at major

infrastructure projects in Iraq as part of the country‘s efforts to rebuild

after years of conflict.However, the company is unlikely to get involved in projects

outside Iraq‘s oil industry until there is an improvement in safety, Yu said.The company wants to take part in large projects in Saudi

Arabia and Oman such as road infrastructure, and was looking at whether it

could partner with Omani companies to enter that market."Hopefully we will have a breakthrough this year,"

Yu said.The bulk of China State Engineering Corp Middle East‘s work

is in the UAE and Kuwait.

Other entities work in other parts of the region like

North Africa.Yu also said he believes that foreign construction companies

would enter Syria within the next five years to start rebuilding the country,

though the situation remains unclear at present."It is just a matter of time," he said.

Note: The post (China's state construction giant sees more energy projects in Iraq) appeared first on (Baghdad Post) and do not necessarily reflect the position of IraqNow.news.
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