ABB gets Rs 4,000 cr order from Power Grid

Moneycontrol Bureau

Power equipment maker ABB has booked an over Rs 4,000 crore order from Power Grid Corp of India to deliver ultra high voltage transmission system, which will supply hydroelectricity from north East India to Agra in central India. It will book over Rs 500 crore of the total order value for local equipment supplies and will additionally contribute to the project with design and engineering services. ABB shares rose post the announcement and were trading up 4.5% at Rs 597 in morning trade on NSE. ABB said it will execute the transmission project with BHEL [Bharat Heavy Electricals], which will deliver the remainder of the project. The total project is worth Rs 5,000 crore and will include design, system engineering, supply, installation and commissioning. The project is scheduled to go into operation in 2015, it said. When completed, the transmission system will have a convertor capacity of 8,000 mega watt and will be able to supply electricity to 90 million people based on current average national consumption figures, ABB said.