India’s Shapoorji Pallonji eyes major expansion into Saudi Arabia
Construction giant has culminative project orders worth $2.7bn in the GCC, with several in the Kingdom
Shapoorji Pallonji, the Indian business conglomerate with interests in the construction and real estate sector, is fast expanding its operations in the GCC, including in Saudi Arabia, with several major projects underway in the Kingdom.
According to a report by Arab News, Shapoorji Pallonji International (SP International), the international arm of Shapoorji Pallonji and Company Private Limited, has culminative project orders worth $2.7 billion in the GCC alone.
It’s Saudi Arabian projects currently under execution include: Nine towers in King Abdullah Financial District; SABIC’s global headquarters and mosque in Jubail; a satellite township for the Ministry of Interior at Salwa in the Eastern Province; Al Obeikan Hilton Tower Hotel in Riyadh and infrastructure development for the Mayasem project in Jeddah, stated the report, citing a top official.
“Our total order backlog globally stands at $15 billion as of September,” revealed Mohan Dass Saini, CEO and managing director of SP International.
Saini said the company has also completed several high-profile projects in Saudi Arabia, including: Saudi Electricity Company headquarters, Al-Khorayef Center in Alkhobar, Marriott Hotel in Riyadh, Edafah Executive Tower in Riyadh, Al-Reziza and AKH Tower in Alkhobar and Commanders College in Riyadh.
He stated that SP International was working closely with the Kingdom within the framework of the policies and goals set by the ambitious Saudi Vision 2030.
“I am sure the goals are all achievable as I see a lot of social and economic reforms undertaken by the Saudi leadership,” he noted.
“Saudi Arabia today has tremendous potential to attract the best resources, the best global companies and also a sizable investment,” remarked Saini, referring to megaprojects, such as NEOM, Amaala, the Red Sea Project, and several ARAMCO projects, all of which are at different stages of execution.
According to him, the company fully supports the kingdom’s Saudization initiative by training and hiring Saudi nationals.
“We have around 4,000 employees, including several Saudi workers, currently deployed on different projects in the Kingdom,” he added.
On its regional strategy, Saini said SP International has entered the GCC region in a big way by clinching some new projects in countries such as the UAE and Kuwait besides the kingdom.
These include construction of 404 precast villas at Mudon Development Phase II in Dubai, development of residential plots at Quoz IV Phase II in Dubai in addition to Al Maktoom Hospital Site Redevelopment in Dubai and main works contracts for Bloom Central Abu Dhabi and Green Community West Extension in Dubai, he concluded.
