October 12, 2008

KEC to acquire a TLT construction firm in US - Report

BS reported that RPG Group’s KEC International will soon acquire a mid sized power sector EPC player in the US for at strengthening its presence in the US market

Mr Ramesh Chandak MD & CEO of KEC International said “We have identified a few targets and hope to complete the transaction in a few months.” He added that the targeted company would be a transmission line construction company.

KEC already has a 50:50 JV in the US with Power Engineers, a major power sector consulting company in the US. The JV was formed in 2006 to bid for projects in the US market. The US market contributes 2% of the turnover for KEC with the current order book of over INR 5,000 crore for KEC although overseas projects contribute nearly 68%.