Siemens shines on order book rising

Siemens wins order worth Rs 570 crore for one of the world’s largest Static Synchronous Compensator (STATCOM) projects from Power Grid Corporation of India (PGCIL)· The company bagged orders of Rs 844 crore during month of June. The scope of the project includes design, engineering, supply, civil, installation, testing and commissioning of STATCOMs at four substation locations of PGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha.

Siemens’ cutting-edge technology will result in the installation of one of the world’s largest STATCOM projects at 400 kV level with a dynamic swing range of 2000MVAr and 1250MVAr mechanically switched components. The company manufactures 400 kV STATCOMs at its manufacturing plant at Goa. Because of fast response time of STATCOM controls, power consumers will be benefitted in the form of constant grid voltage and frequency, leading to availability of uninterrupted quality power.

The share price of Siemens has increased by 1.61 per cent on bourses in early trades; and is trading at Rs 1272.3 on an intraday basis.

Siemens focuses on the areas of electrification, automation and digitalisation. It is one of the leading producers of technologies for combined cycle turbines for power generation; power transmission and distribution solutions; infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry, and is also a supplier of healthcare equipments. The company has 22 factories located across India and a nation-wide sales and service network.