KEC International inks JV pact with US company

Mumbai, May 29 (UNI) KEC International Ltd., a part of the Rs 9,500 crore RPG Enterprises group, is contemplating a foray into the high-potential North American market through the joint venture (JV) route.

A leading player in the power transmission, engineering, procurement and construction space, KEC International has identified the USD 100-million Power Engineers Inc. as its partner for the JV.

In a communique to the Bombay Stock Exchange (BSE), KEC International informed that both the companies will hold a 50 per cent stake each in the new company which will be based in the state of Idaho, USA.

Pointing out that this was the ''right time'' to enter the North American market, KEC International Managing Director Mr Ramesh Chandak said that the market there was poised on the verge of significant growth opportunities.

''High value projects are expected to come up as the US builds transmission-system infrastructure,'' he said, adding ''we felt this is the right time for KEC to enter the North American market.

In PEI, we have an able partner with extensive consulting experience in the US and we are confident that we will establish ourselves in the highly competitive US market.'' KEC International, which has a presence in more than 15 countries presently, is a leading player in the Indian market and is already executing orders for several domestic majors, stated the communique.

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