[Photo provided by Doosan Infracore Co.]

Doosan Infracore Co., heavy equipment unit of South Korean conglomerate Doosan Group, is establishing a strong foothold in the Middle East after clinching a number of large deals.

Doosan Infracore said on Sunday that its market share in the construction machinery industry in the Middle East more than doubled to 13.4 percent in the January-May period, up from 6.6 percent in the same period last year.

According to the company, it sold about 460 construction machinery equipment units in the Middle East in the first five months of this year, up 66 percent from last year. Early this year, it sold 20 wheel loaders to Arabian Machinery & Heavy Equipment Co., official supplier of Saudi Aramco, Saudi Arabia’s national petroleum and natural gas company, as well as 70 units of mid- and large-size 19 to 52 ton excavators to construction firms in Saudi Arabia.

Doosan Infracore also signed a supply contract for large-size wheel loaders in Oman, where demand for large-size construction equipment has been low. The company has also been signing contracts with the government and clients in Iraq, where national rebuilding projects are ongoing.

Doosan Infracore said that it has successfully expanded its presence in the Middle East despite political and economic risk in the region. The company plans to dig deeper into the Middle East by offering new customized equipment to Gulf Cooperation Council countries.

The increase in orders in the Middle Eastern region come after Doosan Infracore has put out efforts to diversify its business to include more of the Middle East and Central Asia this year from China. In March, the company signed a supply deal to provide 47 construction equipment units including excavators and wheel loaders in Uzbekistan.

By Chun Gyung-woon and Lee Eun-joo

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]