Siemens, Sumitomo Electric bag $520 million order

Siemens, Sumitomo Electric bag $520 million order

A consortium of Siemens and Sumitomo Electric Industries Ltd has been awarded an order from Power Grid Corp, to supply a high-voltage direct current (HVDC) transmission system

In a statement, Siemens Ltd said, the total size of the order won by the consortium is USD 520 million (nearly Rs 3,400 crore), of which the share of Siemens Ltd is approximately Rs 1,682 crore.

According to Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Ltd, “The grid-augmentation project will go a long way in delivering reliable, uninterrupted power to Kerala.”

He added: “Most of the critical equipment for the project is being sourced from factories in India, renewing our commitment towards Make in India.”

About 200-kilometer-long HVDC connection will be India’s first direct current link using voltage-sourced converter (VSC) technology.

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Author: Research Desk