Kalpataru Projects International has entered into share sale, exit, and release agreement to acquire balance 35% equity stake of Kalpataru IBN Omairah Company (KIOCL) from joint venture partner namely, BIN Omairah Contracting Company. The equity stake of the company in KIOCL will increase from existing 65% to 100%. Consequent thereto, KIOCL will become a wholly owned subsidiary of the company.
The acquisition will further strengthen the company’s presence in the Kingdom of Saudi Arabia market. The balance 35% equity stake is being acquired for an amount of 10 million Saudi riyal (SAR). The acquisition is expected to be completed on or before May 31, 2026.
Kalpataru Projects International is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.
