US construction giant Bechtel and the International Finance Corporation (IFC) have each invested $10 million in a new B2B portal, InfrastructureWorld. com, which was launched in September.
InfrastructureWorld. com provides links to organisations involved in all stages of the infrastructure industry.
Company officials say they expect InfrastructureWorld. com to intermediate in sector deals and become a platform for internet networking. Initially, registration to the site is free and revenue will be made from institutions subscribing to various packages. Cordell Hull, a former executive vice-president of Bechtel, is chairman and chief executive officer of InfrastructureWorld. com.
With the large amount of infrastructure projects in the Middle East, Hull says InfrastructureWorld. com expects to play an important role in the region. At present, InfrastructureWorld. com’s UK office will control operations in the Middle East, but an office will be opened in the region at a later date.