NEW DELHI, Feb 23: Avantha Group company CG has bagged a USD 20 million contract from Indonesian firm PT PLN for setting up power transmission infrastructure.
“CG has received an order from PT PLN for setting up a total of 36 transformer bays around Indonesia, valued at around USD 20 million (approximately Rs 124 crore),” the Avantha Group company said in a statement.
This project is being funded by IBRD – World Bank and is aimed at enhancing the performance of PT PLN’s transmission grid.
The scope of the order includes design, manufacture, supply, construction and installation of transmission equipment in Java, Sumatra, Kalimantan and Sulawesi islands of Indonesia.
“This project is in line with our strategy of establishing CG as a key player in the South East Asian market. We look forward to our association for future collaborative projects in building a robust T&D system in the region,” CEO and Managing Director, Avantha Group company CG, Laurent Demortier said in the statement.
Shares of CG were trading at Rs 177.35, down 1.58 per cent on the BSE. (PTI)
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