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INDIA, SAUDI ARABIA: KEC secures three new contract orders
Publish Date : 22-Nov-2011
KEC International Ltd. (KEC) has been successful to win three new orders from Saudi Arabia as well as India. These new orders will make the company KEC to supply and build transmission lines on turnkey basis.
The Saudi Arabia’s order valued at Rs. 306 crore for 380 kV double circuit overhead transmission lines of 169 km, has come from Saudi Electricity Company (SEC). This order is obtained via KEC\'s joint venture with Saudi Arabia’s Al-Sharif Group. The deal bears the accomplishment deadline of two years.
With regard to the Indian order, the Company has received two new orders of 400 kV double circuit overhead transmission lines from the state-owned Power Grid Corporation of India (PGCIL) as well as a Private player- VISA Power.
The PGCIL order worth Rs. 70 crore is for 69 kms transmission line in Salem, Tamil Nadu, which is to be completed by 27 months.
The Rs. 24 crore worth Visa Power order is for transmission line having route length of 11 kms from company\'s Raigarh Plant to New Kotra PGCIL Sub Station in Chattisgarh. The Contract has to be finished by one year.
KEC\'s existing Order Book with these new orders, is valued at nearly Rs. 8450 crore.
The stock was down by 3.07% standing at Rs.52.15 in the closure of the market session after hitting the day\'s highest at Rs.55.85 and low at Rs.52.10 and the total traded amount was 1.55 lakhs as against the two-week average of 0.30 lakhs.
