[Sponsored Report] Finding success in the Middle East
The company’s international business strategy revolves around two key words: “selection” and “concentration.” Hanwha E&C has decided to focus its overseas efforts on the Middle East and North Africa, which the company sees as highly strategic markets. It plans to establish branch offices in Saudi Arabia, the United Arab Emirates and Algeria to strengthen its network in the regions and help cement new contracts.
The company also received orders to build a $400 million refinery in Algeria as well as a $750 million power plant in Saudi Arabia and a $200 million gas turbine plant in Jordan. These contracts have helped make Hanwha E&C a well-known name in the global market for power plant development. The company plans to expand further expand overseas by tapping areas like Kuwait, Asia and South America, using the Middle East as its base. Along these lines, Hanwha E&C expects that international projects will account for roughly 30 percent of its total business by 2012, which will make it a major player on the global scene.
By Lee Ji-hyun [email@example.com]
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