CMI Limited, the specialty cable company bagged an order of the Central Railways worth Rs. 86.95 crores for the supply of PVC insulated armoured, unscreened, copper conductor underground railway signaling cable for 6449.89 kms.
The order will be delivered within the FY 2017-18, staggered over a period of nine months.
The order was placed by the Office of Controller of Stores, Mumbai CS Terminus, Central Railways. This order is also revenue accretive and together, with the Gujarat Energy Transmission Corporation (GETCO) order received in May 2017, will add over 121 Cr to the top line for FY 17-18.
Over the last 20 years, CMI has partnered with the Indian Railways and its subsidiaries. Also, CMI has supplied wires and cables for Metro rail projects in different cities like Delhi, Jaipur, Hyderabad, Bengaluru and Kolkata.
Supply of signaling cables and quad cables to the Railways contributed 45 percent to the total revenue of CMI in 2016-17. Supply of wires and cables to the Railways has seen a CAGR of 88 percent over FY 13-16 and it is expected to grow by around 30 percent over the next few years.
"The government's continued thrust on electrification, network enhancement and decongestion of the Indian Railways as well as the development of Metro rail projects across India are spelt as good news for the wire and cables sector", said Amit Jain, CMD, CMI Limited.
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