Areva T&D India enters into Rs900 cr deal with MSETCL

Areva T&D India enters into Rs900 cr deal with MSETCL

Mumbai: Power generation and transmission solutions provider Areva T&D India on Wednesday said that it has entered into a deal, worth about Rs900 crore, with Maharashtra State Electricity Transmission Co Ltd (MSETCL) for the construction of substations in the state.

The scope of the agreement includes setting up of total of 36 substations at various locations across Maharashtra over a period of three years, Areva T&D said in a filing to the Bombay Stock Exchange (BSE).

Areva T&D will deliver this project in a consortium with Jyoti Structures, whose scope covers transmission lines worth about Rs833 crore, it said.

Orders for the first 18 substations, worth Rs360 crore, have already been booked by Areva T&D, the company said.

Over the three-year period of the agreement, Areva will assist MSETCL in upgrading and expanding the transmission and distribution network of the state.

“The project confirms our expertise in the utility segment and significantly strengthens our leadership position in India," Michel Augonnet, executive vice-president of Areva T&D’s Systems Business, said.

Shares of Areva T&D India were trading at Rs332.50, up 0.35% in the afternoon trade on the BSE.