India’s KEC International wins new orders worth $141.7m
By Vinu Lal
12:52, 3 December 2021
India’s KEC International, an infrastructure engineering procurement and construction (EPC) firm, won new orders worth INR10.65bn ($141.68m) across its various businesses, the company said in a regulatory update on Friday.
Shares of KEC rose to INR449.80 after the news but closed 0.27% down at INR431.35 on the National Stock Exchange today.
A flagship company of business conglomerate RPG Group, KEC secured orders for its transmission and distribution (T&D) business from India, the Middle East, Africa and the Americas. The company’s railway unit secured an order for construction of railway siding in India, the update added.
“Our order book continues to grow on the backdrop of orders secured across all our business verticals,” said KEC International managing director and chief executive Vimal Kejriwal.
Orders across all verticals
“The continuous orders in T&D have significantly enhanced our order book, especially in the international markets. We are particularly enthused by the order in railways, which further consolidate our leadership in the conventional railway segment,” he added.
The company has also secured an order for infra works in the water pipeline segment in India, while its wholly-owned subsidiary Spur Infrastructure won an order for laying oil and gas pipelines. The company’s cables unit has secured orders for various types of cables from India and overseas.
“The order in civil has strengthened our presence in the growing water infra segment. With these orders, our year-to-date order intake stands at INR110bn with strong growth of 2.5 times visà-vis last year. These orders along with the orders announced earlier, reaffirm our confidence in achieving the targeted growth going forward,” Kejriwal added.
KEC International has a presence in verticals such as power transmission and distribution, railways, civil, urban infrastructure, solar, smart infrastructure, oil and gas pipelines, and cables. At present, the firm is executing infrastructure projects across 30 countries and has a footprint in 105 countries.