Kalpataru Power Do Brasil Participações Ltda. (‘KPBPL’), Brazil, a Wholly Owned Subsidiary (“WOS”) of Kalpataru Projects International Ltd (“Company”), had earlier acquired 51% stake in Fasttel Engenharia S.A., Brazil (‘Fasttel’) along with management control.
KPBPL has on 10th July, 2023 acquired balance 49% equity stake in Fasttel. Accordingly, Fasttel has now become WOS of KPBPL. The acquisition will further strengthen the Company’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.
Fasttel was incorporated on 8th February, 1988 in Curitiba city in the state of Parana in 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 kilometers of transmission lines up to 750 kV and substations up to 500 kV Voltage level. Fasttel is working with various reputed customers/ developers across the 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”).
Fasttel achieved an approximate gross turnover of USD 59.8 million in FY23. The order book of Fasttel as on 31-03-2023 is BRL 603 Million (USD 117 million). It has over 1700 employees currently.
Be First to Comment