Avantha Group Firm Bags Rs 115-Cr Deal From Power Grid

New Delhi: Avantha Group company CG has bagged an order worth Rs 115 crore from central transmission utility Power Grid Corporation for supply of power equipment.

"The scope of this Rs 115 crore contract from Power Grid, to be executed in 20 months, include design, engineering, manufacture, shop testing, supply, erection testing and commissioning at site, and other associated civil works," Avantha Group said in a statement.

These reactors will be installed at Power Grid's Vemagiri and Srikakulam sub-stations in Andhra Pradesh. When commissioned, these reactors will not only enhance the transmission efficiency of the national grid but also improve the quality of power that reaches the consumer, it added.

"As rapid urbanisation and industrialisation adds millions of new consumers in the country, a robust infrastructure will be the backbone of the power sector and CG is well positioned to serve the utilities for their future growth plan," CG chief executive and managing director Laurent Demortier said.

As of 14:27 p.m., shares in Power Grid were trading at Rs 145.00 apiece on the BSE, up 0.31 per cent from the previous close.