Doosan Infracore expands Middle East market share with more orders

Doosan Infracore Co., a leading South Korean heavy machinery and construction equipment maker, secured more orders in the Middle East where rising crude prices and growing major infrastructure projects raised demand.

Doosan said on Aug. 12 that it has won contracts to supply total 62 units of construction equipment from major customers in Saudi Arabia and Bahrain. Those orders came after it secured an order for 102 excavators from Qatar in April and another contract for 75 excavators from Saudi Arabia in May.

Under the latest deals, Doosan will supply 30 wheel loaders to a construction contractor of Saudi Aramco and 20 excavators to a contractor of the country’s state-run electric power company, which also ordered 50 units of the model in May.

The wheel loaders will be used for a smart city project NEOM, the $500 billion signature plan in Prince Mohammed bin Salman’s drive to diversify the local economy. The buyer was known to have used Caterpillar Inc.’s equipment before.

Two major builders in Bahrain ordered 12 excavators to use in key construction sites and energy development fields.

“Doosan Infracore is expanding its presence in the Middle East by beating global competitors to win a series of major orders,” said a company official. “We will achieve a market share of more than 10% this year in the market.”

Write to Jung-hwan Hwang at jung@hankyung.com
Jongwoo Cheon edited this article.