GE Power India has cancelled its contract with Navayuga Engineering Company Ltd. The company on January 10, 2018, had awarded a contract worth ₹818.30 crore to Navayuga Engineering Company Ltd for design, engineering, manufacturing, supply, erection, testing and commissioning of 12 nos. of 80-MW each capacity full Kaplan Turbine Generator units along with all auxiliary and associated equipment. GE Power has exercised its right to terminate the contract due to prolonged suspension of work by NECL without any certainty of resumption of work in the near future. Shares of GE Power India closed 7.6 per cent lower at ₹594.50 on the BSE.
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