Mumbai, September 18, 2021: KEC International Ltd. (“KEC”), a global infrastructure EPC major, an RPG Group Company, has today entered into a definitive agreement to acquire 100% equity in Spur Infrastructure Private Limited (“Spur Infra”) for an enterprise value of Rs. 62 crores subject to customary adjustments at closing. The acquisition is expected to be completed within 60 days from the date of agreement.
Spur Infra, incorporated in 2016, is an Indian EPC company engaged in setting up of cross country oil & gas pipelines and city gas distribution networks. In the last three years, Spur Infra has an annual revenue in excess of Rs. 100 crores, a profitable track record, technical expertise, and experienced manpower. Spur Infra has an order book of ~Rs. 600 crores comprising of cross-country pipelines and city gas distribution network projects from marquee customers.
Acquisition of Spur Infra is in line with KEC’s strategy to diversify into adjacent areas of growth. KEC’s proven project management capabilities and extensive experience of executing cross-country linear projects and managing Right of Way (RoW), along with Spur Infra’s technical knowhow, experienced manpower and relevant pre-qualifications will enable KEC to capture the lucrative growth opportunities in the oil and gas cross-country pipelines EPC sector in India as well as in international markets.
Mr. Vimal Kejriwal, MD & CEO, KEC International Ltd commented, “We launched the oil and gas pipelines EPC business in line with the Government’s thrust in the sector and our strategy to diversify the business portfolio into adjacencies. This acquisition will enable us to accelerate growth in this sector and establish this business as one of our key growth drivers going forward.”
About KEC International Limited
KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables. The Company is currently executing infrastructure projects in 30+ countries and has a footprint in 105+ countries (includes EPC, Supply of Towers and Cables). It is the flagship Company of the RPG Group.
About RPG Enterprises
RPG Enterprises, established in 1979, is one of India's fastest growing business groups with a turnover of US$ 4 Billion. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation led technology businesses.
About Spur Infrastructure Private Limited
Spur Infrastructure Private Limited, incorporated in 2016, is an Indian EPC company in the oil and gas pipelines sector, with operations in cross country pipelines and city gas distribution networks.