Rail Budget 2016: KEC Int'l says Rs 20,000 crore opportunity for rail electrification companies

MUMBAI: Railway electrification engineering companies can see ordering of jobs worth Rs 20,000 crore with the increased focus on the segment in the Railway Budget, Vimal Kejriwal, managing director and chief executive officer, KEC International, told ET.

Railway Minister Suresh Prabhu increased the outlay for railway electrification by almost 50% and propose to electrify 2,000 kms.

“The budget offers big opportunity for engineering and construction companies which are into railway electrification. Between what has been announced for rail electrification and gauge conversion, we see an order pipeline of Rs 20,000 crore for the sector,” Vimal Kejriwal, managing director and chief executive officer, KEC International, told ET.

Kejriwal said that the only concern is regarding the financing of these projects and the sector will watch out for how the various announcements by Prabhu regarding the financing initiatives are rolled out.