KEC International gets Rs 1,215 cr order from India, overseas…

 

The KEC International Ltd, which provides EPC solutions to infrastructure sector, has got various orders worth Rs 1,215 crore for its transmission and cable businesses from both India and overseas.

The transmission business constitutes Rs 1,148 crore of the total order while the remaining Rs 67 crore is from the cable business, KEC International, a RPG Group firm, today said in a statement.

In the transmission business, the biggest order worth Rs 708 crore is from Saudi Electricity Company for design, supply and construction of 380 kV circuit overhead transmission line.

KEC International said its wholly-owned subsidiary SAE Towers has got Rs 196 crore orders from the US and Latin American countries.

Bhutan Power Corporation has awarded KEC International a Rs 180 crore order for supply and construction of 400 kV double-circuit transmission line.

Nepal Electricity Authority has placed a Rs 32-crore order for a 132kV transmission line.

In India, the Rs 32-crore order is from Power Grid Corporation for erecting a transmission line in West Bengal.

"In the cable business, the company has secured orders for the supply of power and telecom cables. The total value of these orders is Rs 67 crore," KEC International said.

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Collaboration with Germany & US firmed up for the Green Energy Corridors Development in India...

 

Working to setting up commercial cooperation in renewable energy with developed and developing countries, the Ministry of New and Renewable Energy (MNRE) has firmed up international cooperation agreements with Germany and United States to establish “Green Energy Corridors” in the country.

Officials in the MNRE said the Ministry had been interacting with several developed and developing countries for cooperation in the renewable energy sector with a view to establish commercial cooperation for supplies of indigenously manufactured renewable energy products, systems and devices.

Under this major initiative, the German financial institution kfW has agreed to provide one billion euro loan. This is the follow up of the “Joint Declaration of Intent” between Germany and India on Indo-German Development Cooperation regarding the establishment of “green energy corridors” signed on April 11, 2013. The first line of the loan is expected to be delivered shortly.

In addition, under India-US Energy Dialogue, a memorandum of understanding (MoU) has been signed recently for promoting energy access through clean energy (PEACE). Under this initiative, Export-Import Bank of US intended to mobilise around $250 million EXIM Bank financing for clean energy access. Similarly, the European Union (EU) is helping Centre for Wind Energy Technology (C-WET), Chennai to estimate off-shore wind power potential and identify most suitable sites for establishment of off-shore wind farms in India. The Ministry has also established cooperation for initiating energy access in rural areas and promote access to clean energy in association with UNDP, World Bank and U.S..

Parliament’s Standing Committee on Energy headed by senior Samajwadi Party leader, Mulayam Singh Yadav has recently recommended that international finances despite being project based or otherwise should be of such scale so as to give the desired thrust to the sector for its proper development otherwise these activities could be financed domestically as the projects do not have higher financial stakes and are beneficial to the common man.

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