KEC International Limited, a part of the Rs 9,500-crore (Rs 95 billion) RPG Enterprises has floated a joint venture company with the Power Engineers Inc of the US in a bid to tap the North American market.
The 50:50 joint venture, KEC Power Inc will be based in the state of Idaho, to capture high value projects that are expected to come up as US builds transmission system infrastructure, KEC said in Mumbai on Monday.
PEI, which is a leading player in the transmission and distribution consulting sector in the US has an annual turnover of $100 million, with an employee base of 750 spread across Northern America.
"The North American market is poised on the verge of significant growth opportunities. High value projects are expected to come up as US builds Transmission system Infrastructure. We felt this is the right time for KEC to enter the North American market," said KEC International Managing Director Ramesh Chandak.
"We are confident that KEC Power Inc. will combine the expertise of the parent companies and establish itself in the highly competitive US market," he added.
KEC is one of the largest power transmission, engineering procurement and construction companies in the world with presence in more than fifteen countries. The company is currently engaged in executing orders in various countries including UAE, Libya, Tunisia, Algeria, Iraq, Afghanistan, Oman, Zambia, Nigeria and Ethiopia.
In the domestic market, KEC is a leading player and is already executing various orders for PGCIL, WBSEB, J&K SPDC, UPPCL and Powerlinks.
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