INTERNATIONAL JOINT VENTURE BETWEEN ASEAN AND GULF: BIDDING AND DELIVERING BAHRAIN INTERNATIONAL FORMULA-1 CIRCUIT; pp. 357–382Full article in PDF format | doi: 10.3176/tr.2014.4.04
A foreign contractor can resort to a partnering or joint-venture strategy with a host contracting firm to bid for a major international construction project. This paper presents a case study in the Bahrain FORMULA-1 Circuit (BFC) project focusing mainly on its tendering and construction stages, which is lacking in literatures. Findings illustrate that the success in such an international pact include: advanced technical and engineering expertise; selection of a committed partner; management expertise; creating and sustaining good working environment; appropriate risk management; maintaining a reliable international materials supply chain; and efficient project planning and tracking system. Management expertise is the most important factor because of the peculiarities and problems of international projects. This case study is able to assist practitioners to devise their own approach in overcoming the challenges and dynamic influences in the international construction market.
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