ABB India bags orders worth Rs 191 cr
New Delhi: ABB India on Wednesday said it has bagged two significant orders worth Rs 191 crore to supply traction equipment for Chittaranjan Locomotive Works, and industrial drives to Megha Engineering and Infrastructures.
Both these components will be produced at ABB's Nelamangala facility in Bengaluru, in line with its commitment to the Make in India' initiative, the company said in a filing to BSE.
The facility includes one of the largest factories for locomotive applications and one of the four global shop-floors for medium voltage drives located in Southern India.
ABB will supply industrial drives worth Rs 68 crore to Megha Engineering and Infrastructures Ltd, an infrastructure company which recently announced its venture into the oil drilling segment.
In addition to industrial drives, ABB India will also supply traction equipment worth Rs 123 crore to Chittaranjan Locomotive Works, which is the manufacturing unit of Indian Railways.
The state-of-the-art traction converters will help improve rail operator's efficiency, thereby supporting sustainable transportation in India.
In 2019, ABB India had won an order from the Indian Railways to supply traction converters worth Rs 270 crore, the company said.
The shares of ABB India were trading at Rs 1,325.95 apiece on BSE, down 0.60 per cent from the previous close.