Kalpataru Projects International Limited (KPIL) and its international subsidiaries Kalpataru Power Do Brasil Participações Ltda. (‘KPBPL’), on 10th July, 2023 acquired balance 49% equity stake in Fasttel. Accordingly, Fasttel has now become WOS of KPBPL.
More Details:
- This has reference to our intimations dated 5th February, 2021 and 8th April, 2021 regarding acquisition of 51% stake in Fasttel Engenharia S.A., Brazil (‘Fasttel’) along with management controlled by Kalpataru Power Do Brasil Participações Ltda. (‘KPBPL’), Brazil, a Wholly Owned Subsidiary (“WOS”) of the Company.
- The entity being acquired is in same line of business as that of the Company i.e. EPC Company engaged in Power Transmission & Distribution and Sub-station.
- The equity stake of KPBPL in Fasttel will increase from 51% to 100%. Consequently, Fasttel will become a WOS of KPBPL and also a step-down WOS of the Company.
- The acquisition will further strengthen KPIL’s position in the Brazilian and Latin American market. Brazil and Latin America are very attractive markets for T&D infrastructure since a lot of projects are being launched in said markets. The Company shall gain from the increased investments and upcoming auctions in the local market.
About Fasttel:
- Fasttel was incorporated on 8th February, 1988 in Curitiba city in the state of Parana in the southern part of Brazil.
- It is an established EPC player with more than 3 decades of presence, having footprints in almost all Brazilian states.
- It has developed thousands of kilometres of transmission lines up to 750 kV and substations up to 500 kV Voltage level. Fasttel is working with various reputed customers/developers across Brazil.
- Fasttel is well positioned for actively participating in studies and solutions for the various upcoming projects including the auctions announced by Agência Nacional de Energia Elétrica, Brazil (“ANEEL”).
About Kalpataru Projects International Limited (KPIL):
- KPIL is one of the largest specialised EPC companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways and Airports.
- KPIL is currently executing projects in over 30 countries and has a global footprint in 68 countries.
- KPIL has maintained a leadership position in all its major businesses backed by strong organisational capabilities, superior technical know‐how, and adherence to best‐in‐class sustainability standards.
Source: KPIL- Press Release | Image Credit (representational): KPIL
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