Saudi-based Construction Products Company (CPC) has announced plans to develop an industrial park in partnership with IL&FS Engineering & Construction Company (IECC), formerly known as Maytas as per of its India expansion strategy.
The industrial park is the biggest venture yet by CPC in India, where its operations have so far been limited to building factories.
Jeddah-based CPC, which has branch facilities in Riyadh, Dammam, Bahra, Abu Dhabi, Cairo, Doha, and Algeria, is scouting for more investment opportunities in India, remarked Dr Faisal Al-Aquil, the director of Business Development and head of Corporate Social Responsibility at CPC.
Dr Al-Aquil was speaking at the annual day function of the Indian Engineering Forum (IEF), held at the Radisson Blue hotel, on Thursday where he was the guest of honour.
Indian Ambassador Hamid Ali Rao, Consul General Faiz Ahmed Kidwai, IEF president Mohammed Sayeeduddin, and a large number of IEF members and other Indian expatriates attended the event held under the theme “Value Engineering.”
Ali Rao said he saw growing potential for business ventures between Saudi and India as the strategic partnership between the two countries strengthened.
"There are already 350 Indian projects in Saudi totally worth $1.6 billion and covering various fields such as construction, management, telecommunication and information technology among others.
Saudi is the largest oil supplier to India and bilateral trade exceeds $25 billion. The Saudi leadership greatly appreciates the contribution of Indian workers in the Kingdom, Rao said, noting that Saudi has two million Indian expatriates, the largest Indian community in the world.
Lauding the Indian workforce for the CPC’s success, Dr Al-Aquil said, “CPC is very proud to have around 40,000 skilled Indian workers within its various companies and CPC’s success would not have been achieved without them.”
A dynamic organization with rich global expertise in construction and ancillary products, CPC operates in tandem with Saudi’s national industrial strategy, serving an array of distinguished clients by providing products for integrated construction projects such as towers, housing complexes, malls and integrated cities, he added.