Companies

CG Power bags order worth Rs 335 cr

PTI New Delhi | Updated on February 12, 2018 Published on February 12, 2018

CG Power & Industrial Solutions Ltd’s wholly-owned subsidiary has bagged an order worth Indonesian rupiah Rs 74,400 crore (Rs 335 crore) from state utility PT PLN (Persero) for manufacturing and supply of 64 units of power transformers.

“CG Power Systems Indonesia, a wholly-owned subsidiary of CG Power & Industrial Solutions Ltd, has bagged an order from Indonesian state utility PT PLN (Persero) for manufacturing and supply of 64 units of power transformers valued at IDR 744 billion,” the company said in a BSE filing today.

“This project is the first of its kind to be funded by Islamic Development Bank to support PLN’s ambitious goal to enhance its transmission grid performance,” it added.

The project will be completed by December 2018. The scope of work includes site survey, design, manufacturing, supply and installation of 64 units (4400 MVA) of power transformers in PLN regions spread from Aceh to Papua over Sumatra, Java, Kalimantan, Sulawesi, Papua and Malukku Islands of Indonesia.

Shares of CG Power & Industrial Solutions Ltd were trading 2.54 per cent higher at Rs 90.70 apiece on the BSE.

Published on February 12, 2018

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