Torrent Power signs Turnkey EPC Contracts with Siemens AG, Germany and Siemens Ltd, India

Torrent Power Ltd has announced that the Company on July 02, 2010 has signed Turnkey EPC Contracts with Siemens AG, Germany and Siemens Ltd, India for UNOSUGEN (the 382.5 MW Gas based Combined Cycle Power Project - the capacity expansion at the existing SUGEN Mega Power Project) and for the greenfield DGEN Project at Dahej SEZ (the 1200 MW Gas based Combined Cycle Power Project).

While UNOSUGEN is being established under the aegis of Torrent Power Ltd., DGEN is being established under the aegis of Torrent Energy Ltd, the wholly-owned subsidiary of the Company. Thus, approximately 1600 MW power generation capacity would be added in the Torrent fold within the next three years.

The stock was trading at Rs.345.50, up by Rs.4.90 or 1.44%. The stock hit an intraday high of Rs.350.85 and low of Rs.336.25.

The total traded quantity was 210860 compared to 2 week average of 60381.

Source : Equity Bulls

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