KEC International secures new orders worth Rs 5200 mn from Kazakhstan & Abu Dhabi

KEC International Ltd has announced that the Company has secured 2 new orders worth Rs 5,200 million (US $ 111 millions) from Kazakhstan and Abu Dhabi. Details of the orders are as follows:

Kazakhstan:

The Company has bagged a Rs 2840 million (US $ 62 millions) contract from Kazakhstan Electricity Grid Operating Company for installing a 500 KV transmission line spanning over 250 kms from Yukgres to Shu in Kazakhstan. The job also includes installation of 200 kms of Optical Fibre Ground Wire for Telecommunication purposes. This project is funded by European Bank for Reconstruction and Development (EBRD).

Abu Dhabi:

This Order worth Rs 2290 million (US $ 49 million) has been bagged by the Company from Abu Dhabi Water and Electricity Company for supply and construction of 2 transmission lines. First line is a 400 KV double circuit line, which runs from Dhaid to Ras Al Khaima and spans over 64 kms. Second line is a 132 KV Quad circuit line, which runs from Ras Al Khaima to Khor Khwair and spans over 28 kms. These transmission lines are being constructed to supply power to the northern emirates of UAE.

Announcing the receipt of these orders, Mr Ramesh Chandak, Managing Director, of the Company said: "As a part of our global diversification and business de-risking strategy, We are making conscious efforts to enter new markets every year. Last year, the Company successfully entered Afghanistan and Ethiopia. With Kazakhstan order, KEC has made its entry in the CIS group of countries.

The Company is one of the largest Power Transmission, Engineering, and Procurement and Construction Companies in the world with presence in more than twenty countries and is a group Company of the Rs 95,000 million RPG Enterprises.

Source : Equity Bulls

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