KEC International Ltd. ("KEC") through its wholly owned subsidiary, KEC Towers LLC, has acquired a state-of-art automated Transmission Tower manufacturing facility with a capacity of 50,000 tons p.a., in mainland Dubai, United Arab Emirates in an auction sale conducted by Emirates Auction Authority.
This acquisition provides KEC a strategic foothold to serve the markets with high growth potential in Middle East and Africa. Besides, it will enable KEC to leverage its technical know-how to create effective EPC solutions and drive deeper connect with customers. It enhances the credentials to secure additional business in the MENA region on account of local price preferences/fiscal benefits.
The strategic location of the plant with the proximity to world class infrastructure facilities - Jebel Ali Port and Al Maktoum International Airport - sharpens the ability of the Company to improve efficiencies and brings flexibility in utilising the facility to serve as a hub for merchant supplies of towers.
This acquisition expands the global manufacturing footprint & further strengthens KEC's positioning as a key player in the infrastructure space.
With this acquisition, KEC now has 6 facilities, manufacturing Transmission Towers, Railway & Solar structures, Monopoles and Hardware spread across India, UAE, Brazil and Mexico with a total manufacturing capacity of up to 4,22,200 tons p.a. making it one of the largest globally operating T&D player.
Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd. commented, "We are happy that we have acquired a fully automated transmission tower manufacturing facility in UAE - Dubai. This facility will help us in expanding our business at a time when we are clearly witnessing resurgence of tendering activity in Middle East and North Africa. We believe this acquisition to be value accretive to our stakeholders."
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