Vimal Kejriwal, MD & CEO, KEC International Ltd welcome the forward-looking, capex-led Budget 2022

I welcome the forward-looking, capex-led Budget 2022, with a sharp 35% increase in outlay. A strong focus on improving the safety of Indian Railways, faster implementation of metro rail systems, infrastructure status for data centres, along with emphasis on PM GatiShakti with significant allocation towards Jal Jeevan Mission, Affordable Housing, BharatNet and building 100 Cargo Terminals for multimodal logistics facilities augur well for KEC International Ltd. and our well-diversified businesses.

Further, initiatives such as the use of Surety Bonds as a substitute for bank guarantee, a cap on Surcharge of AOPs/ consortiums at 15% as against 37% earlier and an end-to-end online e-Bill System to enhance transparency are steps in the right direction for EPC contractors such as KEC.