KEC acquires transmission tower manufacturing facility in Dubai
Mumbai (Maharashtra) [India], Feb 24 (ANI): KEC International, an RPG Group company, said on Monday its wholly-owned subsidiary KEC Towers LLC has acquired an automated transmission tower manufacturing facility with a capacity of 50,000 tonnes per annum in mainland Dubai at a sale conducted by Emirates Auction Authority.
ANI
Feb 24, 2020 11:42 IST
Mumbai (Maharashtra) [India], Feb 24 (ANI): KEC International, an RPG Group company, said on Monday its wholly-owned subsidiary KEC Towers LLC has acquired an automated transmission tower manufacturing facility with a capacity of 50,000 tonnes per annum in mainland Dubai at a sale conducted by Emirates Auction Authority.
The acquisition provides KEC with a strategic foothold to serve the markets with high-growth potential in the Middle East and Africa (MENA) region, it said.
"Besides, it will enable KEC to leverage its technical know-how to create effective engineering, procurement and construction (EPC) solutions and drive deeper connect with customers. It enhances the credentials to secure additional business in the MENA region on account of local price preferences and fiscal benefits."
KEC said the strategic location of plant with proximity to world-class infrastructure facilities -- Jebel Ali Port and Al Maktoum International Airport -- sharpens its ability to improve efficiencies and brings flexibility in utilising the facility to serve as a hub for merchant supplies of towers.
With this acquisition, KEC now has six facilities, manufacturing transmission towers, railway and solar structures, monopoles and hardware spread across India, the United Arab Emirates, Brazil and Mexico with a total manufacturing capacity of up to 4.22 lakh tonnes per annum, making it one of the largest globally operating transmission and distribution player.
"This facility will help us in expanding our business at a time when we are clearly witnessing a resurgence of tendering activity in MENA," said Managing Director and CEO Vimal Kejriwal.
"We believe this acquisition to be value accretive to our stakeholders," he said in a statement.
KEC International is a global infrastructure EPC major with presence in the verticals of power transmission and distribution, railways, solar, civil, smart infrastructure and cables. The company is currently executing infrastructure projects in 30 countries and has a footprint in more than 100 countries. (ANI)
Tags:
Get the App
