Alstom India has strengthened in noon trades after bagging a contract from Bharat Heavy Electricals (BHEL). The stock is trading at Rs 398, higher by Rs 6 or 1.5%, on the BSE.
The company bagged a contract worth about euro 30 million (Rs 252 crore) from BHEL for the supply of components and services for the 2x660 MW Banharpalli Super Thermal Power Project (STPP) located in Jharsaguda, Orissa.
Alstom will co-operate with BHEL in designing the boilers and suppling identified pressure parts of the 660 MW supercritical boilers, along with windboxes. It will also assist BHEL with technical advisors during the erection and commissioning of the units. Key components will be manufactured in Alstom’s manufacturing facilities in Concordia (USA), as well as in Durgapur (India). The units I & II are expected to be commissioned by 2018.
ALSTOM India said,"Out of the entire contract, the company’s scope of work would be Rs 162 crore (i.e. approximately euro 20 million)."
The shares had opened at Rs 399 and have hit an intra-day high of Rs 403 and a low of Rs 396 thus far.
