KEC International sees no material impact on existing Powergrid contracts

KEC International on Wednesday said the company sees “no bearing” on the execution of existing contracts from Powergrid, after being excluded from participating in future tenders by the state-owned transmission player.

The company has issued a clarification after receiving a communication from Power Grid Corporation of India Ltd (PGCIL) that it has been excluded for a period of nine months related to an earlier issue.

In a statement to exchanges, KEC International said it “does not foresee any material impact on its ongoing operations or financial position”.