On Saturday, KEC introduced the acquisition of Gujarat-based Spur Infrastructure at an enterprise worth of ₹62 crore. The corporate not too long ago appointed former Shell govt Gouri Venkatesh as its chief know-how officer.
Whereas Spur Infrastructure will assist KEC fulfil eligibility standards for oil and fuel pipeline tasks, Venkatesh will information the corporate to develop its choices to the sector by tapping into his expertise on the Dutch vitality main, mentioned Vimal Kejriwal, who can also be the managing director at KEC.
“The federal government is speaking about ‘one nation-one grid’ and we count on round ₹5,000 crore to ₹6,000 crore of tenders to be floated yearly. There are solely 3-4 gamers within the nation and we felt there was a possibility for us,” Kejriwal mentioned. “We’ll work on tasks in India after which we will take a look at abroad markets just like the Center East.”
Spur Infra, included in 2016 by oil and fuel sector professionals, has been engaged on cross nation oil and fuel pipelines and metropolis fuel distribution networks and has annual income of greater than ₹100 crore. The corporate has an order e book of ₹600 crore, which KEC will purchase. KEC presently has confirmed orders and sure orders the place it has emerged lowest bidder value ₹27,000 crore.