ABB India has won an order worth around INR 178 crore, from Power Grid Company of Bangladesh Ltd (PGCB), the country's leading transmission utility, to support the country's power infrastructure expansion and meet its growing electricity needs. As part of the project, ABB India will build two new substations and upgrade two existing substations, all located in the south-eastern parts of Bangladesh. The order was booked in the first quarter of 2017. The design, engineering, system integration and supply of key products will be executed in India, another example of making in India for the world.
The substations will add around 535 megawatts (MW) of transmission capacity - enough to power more than 250,000 households - and contribute to the government's target of providing access to electricity for its population of around 165 million, by 2021. The government of Bangladesh is working towards its 'Vision 2041', which outlines plans to have a strong and developed economy by 2041. To achieve this, the country is focusing on a steady GDP growth of over 7 percent. This economic growth ambition is also boosting the demand for electricity.
"Our long term partnering and association with PGCB for strengthening of power network in Bangladesh has been a rewarding experience," said Sanjeev Sharma, CEO and Managing Director ABB India. 'Benefiting from a young grid, the country has been adopting smart technologies like GIS with ease, to connect households to reliable power. Advanced technology solutions for secure and quality power will enable the country to tap into its potential and catalyze growth in the region,' he added.
ABB will build and commission one 132kV/33kV air insulated switchgear substation in Kachua, one 132kV/33kV gas insulated switchgear substation in Kalurghat and upgrade two existing 132kV/33kV AIS substations into GIS substations in the Comilla and Modhunaghat areas. ABB will also provide substation automation systems and fiber optic communications.
The long-term plan for Bangladesh is to generate 60,000 MW electricity by 2041 - four times its current capacity - and grow its industrial and transport sector. Bangladesh is investing in its electricity infrastructure to meet the rapidly increasing demand for power and to ensure a reliable supply of electricity. For over a decade, ABB has supported utility and industry customers in Bangladesh to help the country meet its growth plans.
Shares of ABB India Limited was last trading in BSE at Rs.1410.95 as compared to the previous close of Rs. 1451.9. The total number of shares traded during the day was 15631 in over 1869 trades.
The stock hit an intraday high of Rs. 1482.25 and intraday low of 1396.05. The net turnover during the day was Rs. 22665868.