KEC arm acquires automated transmission tower manufacturing facility in Dubai

KEC International, through its wholly-owned subsidiary KEC Towers LLC, has acquired an automated transmission tower manufacturing facility for ₹100 crore.

This facility, with a capacity of 50,000 tonnes per annum, is located in mainland Dubai and was acquired through an auction sale conducted by Emirates Auction Authority, the company said in a statement.

Value-accretive

Talking to BusinessLine, KEC International Managing Director and Chief Executive Officer Vimal Kejriwal said that the acquisition comes at a time when the company is seeing demand pick up in West Asia and North Africa markets. “We believe this acquisition to be value-accretive to our stakeholders. If we had done this inorganically, it would taken us 3 years in addition to ₹300-400 crore in capital,” added Kejriwal.