CG Power Systems bags Rs 335 crore order from Indonesian firm

NEW DELhI: CG Power & Industrial Solutions Ltd today said its wholly-owned subsidiary has bagged an order worth Indonesian rupiah 744 billion (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.
"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 BSE.