Vietnam's HBC inks sponsorship agreement with Kuwait's Hot Engineering
Under the terms of the deal, Hot Engineering & Construction will become Vietnam-based Hoa Binh Construction's exclusive sponsor in Kuwait and the wider Middle East
Vietnam's Hoa Binh Construction & Real Estate Corporation (HBC) has signed an agreement with Kuwait's Hot Engineering & Construction Company as part of plans to expand into the Middle East.
Under the terms of the deal, Hot will be HBC's exclusive Kuwaiti sponsor for civil construction and infrastructure works, according to Vietnam Plus.
The companies intend to submit joint bids for both government and private sector projects in Kuwait and the wider region.
The partners also plan to detail plans on procedures for concrete projects during the coming five years.
The agreement forms part of Hot and HBC's strategy to support the New Kuwait initiative, which aims to turn the country into a regional financial and commercial hub by 2035.
The Kuwait-headquartered construction firm will assist HBC in becoming a major bidder for construction works, according to the Vietnam Plus report.
Hot Engineering & Construction is a multidisciplinary engineering construction and maintenance outfit that works within Kuwait's civil infrastructure, and oil and gas sectors.