KEC International inks pact to buy Spur Infrastructure for Rs 62 crore

RPG Group company KEC International Limited has inked a pact to acquire a 100% stake in Spur Infrastructure Private Ltd at an enterprise value of Rs 62 crore. The acquisition is to be completed within 60 days from the date of the agreement. KEC International told the media that the acquisition is in line with the company's strategy to expand into various areas of growth. Vimal Kejriwal, MD & CEO, KEC International Limited, told the media that the company launched the oil and gas pipelines EPC business with the centre's progressive role in the sector. He said that the company's strategy is to diversify the business portfolio into adjacencies. Formed in 2016, Spur Infra is an engineering procurement and construction (EPC) company that is a major player in India's oil and gas sector. The company sets up oil, gas pipelines, and city gas distribution networks across the country. Spur Infrastructure generated over Rs 100 crore annual revenue with a profitable track record, experienced workforce, and technical expertise. The company has around Rs 600 crore order book, including cross-country pipelines and city gas distribution network projects from marquee customers. Image Source