EIL sees prospect as Saudi, UAE plan to expand pipeline, storage

New Delhi: Engineers India Ltd (EIL) sees more business opportunities in the Gulf as Saudi Arabia and the UAE plan to expand pipeline and storage infrastructure to reduce their dependence on the Strait of Hormuz, chairman Atul Gupta said on Friday.

The near-closure of the Strait due to the Iran war, which began more than six months ago, has heightened the need for Gulf oil exporters to develop alternative export routes. The war has also damaged energy infrastructure in the region, some of which is now being restored. "This conflict has definitely opened up more opportunities from the (Gulf) region," Gupta said.

Also read | GAIL looks to sell its stake in US shale business