Afcons Infrastructure, a subsidiary of the Shapoorji Pallonji Group based in Mumbai, India, is strategically pivoting towards Europe and the Middle East following a slowdown in the African infrastructure market. The company is on the verge of securing three major contracts in Croatia valued at over ₹11,300 crore (approximately $1.4 billion), which could notably increase its international order book from the current 12% share.
Shift in Market Focus
Afcons has encountered challenges in Africa due to economic and political issues slowing infrastructure development projects. The move to Europe and the Middle East aims to diversify its portfolio and seize emerging opportunities in these regions.
Details of the Croatian Contracts
The Croatian bids encompass various infrastructure projects, including:
- Transportation infrastructure
- Energy projects
Winning these contracts would solidify Afcons’ footprint in the European construction sector and boost its revenue.
Company Expertise and Market Alignment
Afcons is recognized for its capabilities in handling large-scale engineering projects such as:
- Bridge construction
- Metro rail systems
- Highways
- Port development
This expertise is well suited to meet the demands of European and Middle Eastern markets, which are currently experiencing increased infrastructure investments.
Strategic Expansion and Industry Outlook
As multinational firms seek balanced geographic exposure, Afcons’ management views success in Croatian bids as a pathway to further European contracts. This strategy complements its existing projects in the Middle East.
Industry analysts suggest that successful entry into the Croatian market could stimulate growth across other European countries where infrastructure modernization is a priority.
Future Prospects
Afcons aims to significantly increase its international revenue share beyond the present 12%. The company’s ability to quickly adapt to changing global economic conditions reflects its agile business model and readiness for expansion.
Stay tuned for more updates from Questiqa Europe News.
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