KEC International Bags Order Worth Rs 636 Crore From Egypt
Power transmission equipment manufacturer KEC International has received an order worth Rs 636 crore from Egyptian Electricity Transmission Company.
It is the largest contract the company has ever got. The order will be funded through the European Investment Bank and the Egyptian National Bank.
In a statement, the company said that the scope of the order includes design, supply and construction of circuit lines in Egypt. The total length of the Egyptian transmission lines will be 196 kilometers and the order is to be finished in 24 months.
Mr. Ramesh Chandak, company’s managing director said that KEC's total order book stands at Rs 5,000 crore with this new order.
Mr. Vimal Kejriwal, executive director said that the company is also making bids for three more projects in the country (Egypt).
He added that presently KEC Int. is implementing turnkey projects in 24 countries and approximately 70% of its orders come from abroad.
The company is currently implementing Rs 10 billion worth Power Grid projects in India.
At 3:29 p.m., the company’s shares were trading down 3 percent at Rs 147 in a firm Mumbai market.