Why is KEC International acquiring 100% stake in Spur Infrastructure?

KEC International will acquire 100% equity stake in Spur Infrastructure Private Limited for an enterprise value of Rs.62 crore. The entire deal will be completed end-to-end in the next 2 month time frame. This will mark the diversification of KEC International into the cross country gas pipelines and the city gas distribution (CGD) infrastructure in a big way.

Spur Infra is an Indian EPC (erection, procurement, construction) company engaged in setting up cross-country oil & gas pipelines and CGD networks. Spur had reported revenues of over Rs.100 crores for the full financial year and had an order book of Rs.600 crores. This acquisition will also help KEC capture the lucrative cross-country pipelines EPC sector in India and abroad.