The ₹20 lakh crore infra push in West Asia is turning into a golden moment for Indian infra giants. With mega projects unlocking across the Gulf, companies like L&T and Afcons are no longer just participating—they are leading the charge. From oil-rich Saudi Arabia to the fast-growing UAE, Indian engineering is now building the future, brick by brick.
India’s infrastructure giants, Larsen & Toubro (L&T) and Afcons Infrastructure, are emerging as major beneficiaries of the ₹20,07,370 crore ($235 billion) infrastructure wave sweeping across West Asia. According to news reports, project awards in the Gulf Cooperation Council (GCC) region in 2024 have more than doubled the annual average between 2015 and 2022.
This shift reflects a growing tilt toward Indian expertise in a region previously dominated by South Korean and Chinese contractors, many of whom are either scaling back or spreading across.
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Larsen & Toubro has reported a sharp rise in overseas orders, doubling its inflows to over ₹2,00,000 crore ($24.10 billion) in FY25, up from ₹90,000 crore ($10.80 billion) in FY23. Over 60% of these orders come from Saudi Arabia and the UAE, with L&T strengthening its presence in energy, infrastructure, and industrial projects.
The company has moved up the value chain from being a subcontractor to a long-term agreement contractor for Saudi Aramco, giving it direct access to high-value offshore oil, gas, and infrastructure projects. By FY25, L&T is expected to capture 10% of the hydrocarbon market and over 8% of the infrastructure market within the GCC.
The future pipeline remains robust, with FY26 projections nearing ₹19,00,000 crore ($228.80 billion), two-thirds of which is linked to hydrocarbon developments.
Afcons Infrastructure is eyeing a breakthrough in the region with its bid for Dubai’s ₹1,87,924 crore ($22 billion) sewerage project, which involves 75 kilometres of deep tunnels, 220 kilometres of link sewers, and two treatment plants. The company, in a joint venture, pre-qualified in 2024 and is in final-stage talks with 2 of the 3 shortlisted Build-Operate-Transfer concessionaires.
If successful, Afcons’ share could range from ₹21,355 crore to ₹25,626 crore ($2.5–3 billion), nearly matching its entire annual order intake.
Flush with oil revenues, GCC nations are accelerating state-driven infrastructure spending. Key ongoing or planned projects include:
These developments signal long-term potential for Indian EPC companies, especially those with proven execution and cost-efficiency.
Firms like G R Infraprojects, KNR Constructions, and H.G. Infra are following L&T and Afcons’ lead, exploring GCC markets through joint ventures and pre-qualification bids.
India’s engineering and construction expertise is receiving growing recognition globally. The ongoing ₹20 lakh crore infra push in West Asia may well mark a turning point for Indian companies to establish long-term footholds in international infrastructure.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: May 29, 2025, 2:04 PM IST
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