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KEC International Ltd, through its wholly owned subsidiary KEC Towers LLC, has acquired an automated transmission tower manufacturing facility with a capacity of 50,000 tonne per annum in mainland Dubai. The financial terms of the deal were not disclosed.
This was through an auction sale conducted by Emirates Auction Authority, the company said in a statement. “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,” KEC International Managing Director and Chief Executive Officer Vimal Kejriwal said.
This acquisition will provide KEC a strategic foothold to serve the markets with high growth potential in Middle East and Africa and also enable to leverage its technical know-how to create effective EPC solutions and drive deeper connect with customers, it added.
This acquisition expands the global manufacturing footprint and further strengthens KEC’s positioning as a key player in the infrastructure space. With this acquisition, KEC now has six facilities, manufacturing transmission towers, railway and solar structures, monopoles and hardware spread across India, the UAE, Brazil and Mexico with a total manufacturing capacity of up to 4,22,200 tonne per annum.
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