Afcons Infrastructure, a subsidiary of the Shapoorji Pallonji Group based in Mumbai, India, is strategically pivoting its focus towards the European and Middle Eastern markets amid a slowdown in Africa’s infrastructure growth. This shift aims to diversify and bolster Afcons’ international presence.
The company is currently awaiting confirmation for three major infrastructure project awards in Croatia, collectively valued at over ₹11,300 crore (approximately $1.4 billion USD). Securing these contracts will significantly increase Afcons’ international order book, which presently represents about 12% of its total order portfolio.
Strategic Shift and Project Scope
With these new Croatian projects, located in Europe, Afcons anticipates a substantial rise in its international business share. This move is part of a broader strategy to tap into growth opportunities in developed and emerging markets beyond Africa.
The projects cover multiple sectors and will likely involve:
- Transportation infrastructure
- Energy development
- Urban infrastructure
These developments are crucial for Croatia’s economic growth and its integration into European networks.
Company Strengths and Market Outlook
Afcons has earned a strong reputation for delivering quality infrastructure projects in various geographical locations. Its experience in handling complex bids and large-scale contracts positions it well to compete effectively in Europe’s competitive market.
The decision to focus on Europe and the Middle East aligns with current global economic trends. Challenges in Africa’s infrastructure sector, including political instability and funding constraints, contrast with more stable and lucrative opportunities found in Europe and the Middle East.
Future Prospects
The parent company, Shapoorji Pallonji Group, views this strategic shift positively, anticipating that successful projects in Croatia will pave the way for further opportunities across Europe and the Middle East, thereby expanding Afcons’ global footprint.
Afcons expects formal award announcements soon, which will enable the prompt commencement of these major projects.
Stay tuned for further updates from Questiqa Europe News.
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