Siemens said that the company's consortium with Rail Vikas Nigam (RVNL) has secured an order from Bangalore Metro Rail Corporation (BMRCL) for electrification of Bengaluru Metro Phase 2 project.
Total order value is approximately Rs 766 crore. Siemens share as part of the consortium is approximately Rs 558 crore.
Siemens will design, engineer, install and commission rail electrification technologies as well as a digital solution comprising Supervisory Control and Data Acquisition (SCADA) systems. The project covers 30 stations spanning over 58 kilometers connecting Bengaluru Airport terminal to Central Silk Board via KR Puram and two depots.
"With this order, Siemens is present in 11 out of 20 cities that have a Metro in India, the company said in a statement.
Gunjan Vakharia, head of Mobility Business, Siemens, said: As part of our continued efforts towards nation building through sustainable rail transportation, we are proud to be associated with BMRCL on the electrification of Bengaluru Metro Phase 2 project.
The implementation of Phase 2 will significantly contribute to sustainable urban development in Bengaluru, catering to the requirements of commuters and Metro Rail authorities."
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Siemens is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. The firm is the flagship listed company of Siemens AG in India.
The company's net profit jumped 73.72% to Rs 896.4 crore in March 2024 quarter as against Rs 516 crore reported in the same period last year. Total revenue from operations jumped 19% year on year (YoY) to Rs 5,313.8 crore during the second quarter ended March 2024.
The scrip rose 0.68% to currently trade at Rs 7810.30 on the BSE.
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