GE Power bags NTPC Alstom project worth Rs 200 crore

GE Power made an announcement about securing a new order from NTPC ALSTOM Power Services Pvt. Ltd. post market hours on January 5, 2017.

NTPC ALSTOM is a 50:50 joint venture between NTPC and GE. GE Power on Thursday  made an announcement that NTPC ALSTOM had awarded it a contract worth ~198.8 crore for the upgradation project of steam turbines at NTPC’s super thermal power plant at Ramagundam in Telangana. GE Power will supply the steam turbine module, turbine controller and auxiliaries and will supervise its erection, commissioning and testing.

Earlier, on December 30, 2016, the company had bagged a contract from BHEL to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project and another 800 MW coal-based North Chennai Supercritical Thermal Power Project Stage III. This project is estimated to be worth Rs 271.1 crore. Both these projects are located in Tamil Nadu and are in line with the government’s focus on upgrading the power infrastructure in the country.

On the BSE today, GE Power stock opened at Rs 525 and surged 4.5 per cent, touching a day’s high of Rs 545 on the back of above announcement.