KEC International bags orders worth Rs 868 crore

KEC International bags orders worth Rs 868 croreKEC International has announced that it has received new orders worth Rs 868 crore in transmission, power systems, telecom and cables businesses.

The transmission unit of the company received new orders worth Rs 695 crore in India, UAE, Tunisia and the Philippines. The remaining new orders were received by the company’s power systems, telecom and cables divisions.

The power system business bagged orders valued at about Rs 72 crore, the telecom unit received orders worth Rs 62 crore and the cable business received orders worth Rs 39 crore. The largest order was from the Power Grid Corporation of India worth Rs 2.27 billion. The Himachal Pradesh Power Transmission Corporation awarded an contract worth Rs 640 million.

The Abu Dhabi Transmission & Despatch Company gave a contract for Rs 2.78 billion. The project needs to be completed in 24 months. The company received new orders from the National Grid Corporation of the Phillippines (NGCP), for transmission line project in Tunisia and other orders in Punjab and Goa.

The shares of the company rose 3.8 percent intraday on Monday and were trading at Rs 69.15. The engineering, procurement and construction company is part of the RPG Group and has a market valuation of Rs 1,777.77 crore.