CG Power shines on order wins from Indonesia
CG Power Systems Indonesia, a wholly-owned subsidiary of CG Power & Industrial Solutions Limited, has won an order from Indonesian state utility PT PLN (Persero) for manufacturing and supply of 64 units of Power Transformers valued at IDR 744 billion (US$ 55 million).
The project is expected to be completed by December 2018 and would play a critical role in its ongoing 35GW fast track program. CG Power will complete the supplies against the order by December 2018. This is the eight tender won by CG as a leader which comprised of eight different ratings in a wide capacity and voltage range. 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.
Avantha Group Company, CG Power and Industrial Solutions Limited (Formerly Crompton Greaves Limited) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.
Cheering the news, stock surged around 4 per cent and touched an intra-day high of Rs. 92, up by 4 per cent from its Friday’s closing of Rs. 88.45, on Monday.