ABB Power Products secure order from Indian Railways
The engineering major, ABB Power Products and Systems Limited announced on Thursday via a stock exchange filing that it has secured a work order from Indian Railways.
Following the restructuring process in the business, this order comes as a key indicator of the current situation in the company. Hitachi ABB Power Grids operates under the legal entity name-ABB Power Products and Systems India Limited.
Hitachi ABB Power Grids India informed that it has secured Rs 120 crore order electrification work from Indian Railways. The scope of the project is expected to deliver transformers to the electric locomotive manufacturers in India, named as Chittaranjan Locomotive Works (CLW). The total production of 400 passenger and freight locomotive engines is expected to be executed soon. Such work order and contribution towards local manufacturing throw light on the net-zero carbon emission target by the government.
The company will be delivering a split of its transformers between 6,531 kilo- volt-ampere (kVA) for CLW’s goods locomotive engines (needing heavy lifting capabilities) and 7,775 kVA for passenger segment.
The shares, which started trading in March this year, have gained 7 per cent since then. On Thursday, it closed at Rs 843.10 on BSE.