Avantha Group firm Crompton Greaves (CG) on Thursday said it has signed a contract with Paraguay's Administracion Nacional de Electricidad (ANDE) to strengthen the Latin American nation's electricity network.
"Avantha Group company CG has signed a contract with...(ANDE), national power utility of Paraguay for the design, manufacturing, testing and supply of switchgear equipment," Crompton Greaves said in a BSE filing.
The company further said that it has won orders from ANDE to the tune of over USD 25 million cumulatively since last year.
The projects include, supply of high voltage power products and automation solutions. CG's CEO and Managing Director Laurent Demortier said, "With this order, CG fortifies its position as a partner of choice for ANDE and our capability to serve the South American market." CG said the contract was won through a bidding process.
Shares of Crompton Greaves were trading at Rs 167.70 a piece in the morning trade, down 0.77 per cent on the BSE.
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