Iran war latest: Saudi Arabia issues all-clear after wave of alerts in Riyadh and Al Kharj

Engineers India Ltd (EIL) is in preliminary discussions with Saudi Arabia and the UAE to provide engineering and consultancy services for oil and gas infrastructure projects. The aim is to reduce the Gulf producers' dependence on the Strait of Hormuz, a critical energy chokepoint that has been disrupted by the Iran conflict. According to EIL chairman Atul Gupta, Saudi Arabia and the UAE plan to invest about $1 billion in pipelines, storage facilities, and related infrastructure to create alternate routes for shipping crude and petroleum products to international markets.

EIL is seeking project consultancy and feasibility-study mandates for these planned infrastructure developments. The conflict has caused a slowdown in shipping through the Strait of Hormuz, prompting Gulf producers to explore alternative infrastructure and routes. While there is a slowdown in new orders from the Middle East as energy producers focus on restoring existing installations, EIL expects the order inflow to pick up in the third and fourth quarters.

The conflict has created a mixed picture for EIL, with delays to existing projects but potentially a larger pipeline of engineering work if Gulf producers accelerate investments in alternate export infrastructure.