KEC International Secures Rs 1,114-Crore Orders, Deepens Foray In Middle East
KEC International's year-to-date order intake stands at Rs 14,600 crore, marking growth of 50% compared to the last year.
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Infrastructure major KEC International Ltd. has secured orders worth Rs 1,114 crore across various businesses, according to an exchange filing on Monday.
The fresh batch of orders deepens the RPG group company's foray into the Middle East market, as it has bagged an order for a 400-kilovolt transmission line in Oman. Earlier, the firm had received orders from neighbouring Saudi Arabia and the United Arab Emirates.
"The order in Oman, along with the previous orders from Saudi Arabia and UAE, has further strengthened our leadership position in the Middle East," said Vimal Kejriwal, managing director and chief executive officer of the company.
KEC International has also received order for the "supply of towers, hardware and poles in Americas", a media release said, without divulging further details related to the specific order.
In the domestic market, the company's railways business division has secured an order for metro overhead electrification works, the release added.
In the industrial segment in India, KEC International has secured fresh orders, it said, without sharing further details.
In addition, the company has also received orders for supply of various types of cables in India and overseas, the release further noted.
With these new orders, the company's year-to-date order intake stands at around Rs 14,600 crores, reflecting growth of about 50% compared to last year, KEC International said.
“We are pleased with the various orders secured across our business verticals...Our Civil business has diversified its customer base with the addition of reputed clients in the industrial segment. We are particularly encouraged by the railway order in the technologically enabled segment of metros, which is a key focus area for us," Kejriwal said.
The disclosure was made by KEC International shortly before the closing bell. The company's scrip, which was edging higher throughout the day's trade, rose further to close 4.24% higher at Rs 1,040.95 on the BSE. In comparison, the benchmark Sensex advanced 1.25%.
