Engineers India Reports Order Slump Amid US-Iran Hostilities

The state-owned construction and consultancy firm Engineers India Ltd. is experiencing a slowdown in new orders for energy projects across the Middle East. This decline is attributed to heightened security risks resulting from ongoing hostilities between the United States and Iran.

Chairman Atul Gupta stated that the conflict has impacted both new and existing projects. He noted that Gulf nations are currently prioritizing the securing and restoring of their installations over new investments. The firm, which specializes in refineries and pipelines, relies heavily on international markets, with overseas projects making up more than 40% of its 170 billion-rupee order book.

Despite the current slump, Gupta expects a surge in contracts once the conflict ends. He anticipates that Middle Eastern producers will invest billions in infrastructure to reduce vulnerability to maritime disruptions and bypass the Strait of Hormuz.