KEC International has secured orders worth ₹2,872 crore from Power Grid Corporation of India Ltd (PGCIL) for the design, supply and installation of 765 kV transmission lines, according to a company release filed with the BSE on October 24.
The company said the orders mark the largest-ever single order for its India transmission and distribution (T&D) business. The projects are linked to the evacuation of 8.5 gigawatts (GW) of renewable energy from Gujarat.
The orders have significantly expanded KEC International’s domestic T&D order book, the company said in the release.
Vimal Kejriwal, Managing Director and Chief Executive Officer of KEC International, said the company had secured the orders amid strong momentum in its T&D business.
“These prestigious 765 kV projects, associated with the evacuation of 8.5 GW of renewable energy from Gujarat, have substantially expanded our India T&D order book,” Kejriwal said.
The company remained confident about the growth prospects of India’s T&D market, supported by rising energy demand and the country’s continued focus on strengthening transmission infrastructure.
With the latest order wins, KEC International’s year-to-date order intake has crossed ₹13,500 crore, including around ₹9,500 crore from its T&D business, the release stated.
Mumbai-based KEC International is the flagship company of RPG Group and operates in infrastructure engineering, procurement and construction. Its businesses include power transmission and distribution, civil construction, transportation, renewable energy, oil and gas pipelines, and cables and conductors.
KEC shares closed around 1.5% down at ₹327 apiece on the NSE on Friday, October 23. The stock has shed nearly 56% so far this year.