Siemens bags project in Nepal
Siemens bagged a contract from the Nepal Electricity Authority (NEA) to upgrade the energy management system at its Load Dispatch Center in Kathmandu.
NEA has selected the company for upgrading its Supervisory Control and Data Acquisition/ Energy Management System (SCADA/EMS) at its Load Dispatch Center (LDC) in Kathmandu, Siemens said in a regulatory filing.
The fast-track project has been funded by the German government-owned development bank KfW.
NEA, parent generator and distributor of electric power under the supervision of the government of Nepal, has been planning to replace its 15-year-old SCADA/EMS with a state-of-the art system that will enhance the capacity of the LDC.
The advanced SCADA/EMS system from Siemens will enable NEA to deliver value to its consumers by providing uninterrupted power which will enable sustainable growth of the Nepalese economy, stated the company.
On Thursday, the stock of Siemens opened at Rs. 1,093 per share and touched a high/low of Rs. 1102.20/1076.65, respectively and on 12:15 pm the stock was quoting at Rs. 1,099.40 per share.