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Tuesday, January 19, 2016

CG bags contract from Dominican Republic

Avantha Group Company Crompton Greaves Ltd (CG) on Monday said it has bagged a contract to equip 7 transmission substations of Dominican Republic Transmission Utility ETED with ZIV substation automation and telecommunication systems. In a filing to the Bombay Stock Exchange, the company informed, “CG's smart grid solutions to support the expansion of Dominican Republic's transmission network.” The delivery timing of the project is March 2016, followed by project commissioning by June 2016, it added. The project is part of the expansion of the electricity transmission system in the southern region of the Dominican Republic where the largest wind farm in the country is located, the company said in a statement. The awarded contract includes not only ZIV Protection, Control, Telecommunication and Engineering Services but also a complete telecom system for another four existing substations. They will be equipped with ZIV Universal Teleprotection Systems according to the Telecom Engineering Project, it added. Meanwhile, shares of the company closed at Rs 174.55 apiece, down 0.68 per cent, from previous close on BSE.