09:52 (GMT +7) - Saturday 22/07/2017

Business

HBC expands to Kuwait

Released at: 13:41, 20/05/2017

HBC expands to Kuwait

Hoa Binh Construction and Real Estate Corporation strikes deal with Kuwaiti partner as it moves into the Middle East.

by Ngoc Chi

The Hoa Binh Construction and Real Estate Corporation (HBC) recently signed a cooperation agreement with Kuwait’s HOT Engineering & Construction Company as part of its Middle East development strategy.

HOT will be the exclusive sponsor of HBC in Kuwait for business activities focusing on civil engineering and infrastructure. The two companies will jointly bid for government and private projects in the country and participate in projects where HOT has secured contracts.

The two sides will continue to implement detailed plans on specific projects over the next five years. They also plan to participate in government projects under its vision to 2035, called “Turning Kuwait into a Regional Financial Center for Trade".

HOT was established in 1974 and is one of the largest multinational construction and maintenance companies in the oil and gas industry and infrastructure in Kuwait and the Middle East.

Founded in 1987, HBC has 6,000 employees and has contributed to completing 80 high-rise projects and is currently carrying out approximately 50 projects around Vietnam.

HBC became a strategic partner of Japan’s Kajima Corporation in February, with the aim of expanding into foreign markets.

It also won the Design & Build (D&B) bid for the Dam Vac Golf and Times Garden Vinh Yen project in northern Vinh Phuc province, invested by the Urban Infrastructure Development Investment Corporation (UDIC).

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