Afcons Eyes Massive Growth in Europe and Middle East as African Market Slows

Mumbai, India – Afcons Infrastructure, a key company under the Shapoorji Pallonji Group, is shifting its focus to Europe and the Middle East following a slowdown in the African market. The company is currently awaiting the formal award of three major bids in Croatia. These projects are valued at over ₹11,300 crore (approximately €1.2 billion). Winning these projects will play a vital role in boosting the company’s international presence and expanding its order book share from the current 12%.

Afcons Infrastructure has been actively participating in bids across various regions, but the recent decrease in African infrastructure projects has led the company to strategically pivot towards more lucrative and stable opportunities in Europe and the Middle East. The Croatian projects provide a significant opportunity to strengthen its foothold in the European market.

The exact nature of the Croatian projects remains confidential, but industry experts expect them to involve critical infrastructure development that aligns with the company’s expertise in engineering and construction. The projects are part of a broader trend of increased investments in European infrastructure, supported by the European Union’s focus on upgrading transport, energy, and urban facilities.

Afcons Infrastructure’s move is seen as a timely response to changing global infrastructure demands. Earlier, a sizable portion of its revenue came from African projects, but the recent slowdown impacted growth prospects in that region. Expanding operations in Europe and the Middle East will help balance the company’s portfolio and drive growth in new markets.

The Shapoorji Pallonji Group, known for its wide-ranging presence in the infrastructure sector, considers Afcons a strategic asset for its international expansion. The successful acquisition of Croatian contracts would mark a significant milestone for Afcons, indicating its abilities to compete in established markets with high standards.

Afcons has been investing in technology and workforce capabilities to ensure it meets the stringent technical requirements and project delivery timelines in Europe. This investment highlights the company’s commitment to long-term growth and sustainable operations.

Overall, Afcons Infrastructure’s emphasis on Europe and the Middle East amid Africa’s market adjustments positions it well to capitalize on emerging opportunities. The company remains optimistic about formal contract awards and looks forward to executing these projects efficiently.

Stay tuned for Questiqa Europe News for more latest updates.

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