Siemens bags 127 cr IT order for F1 project

Siemens bags 127 cr IT order for F1 project

Mumbai: Siemens on Monday said it has bagged an order worth Rs127 crore from Jaypee Sports International (JPSI) for providing equipment for the country’s upcoming first Formula1 race track at Noida.

As part of the agreement, Siemens will supply, install, design, engineer and commission special electronics package, including setting up of race control management system, video surveillance of racetrack and video storage, Siemens said in a filing to the Bombay Stock Exchange (BSE).

“Siemens was selected, because of their excellent track record an company’s capabilities to execute and deliver extremely sophisticated solutions for the modern racing circuit within the stipulated time-frame. Siemens has a huge experience in executing similar international F1 projects and recommendations by the FIFA World Sports Council," Jaypee Sports International MD & CEO Sameer Gaur said.

Additionally, Siemens will also provide the complete IT backbone (VoIP and data network), information displays and media distribution system for media centre for this project, it added.

Siemens has executed similar F1 projects in the past at Bahrain, Abu Dhabi, Istanbul and Malaysia.

Shares of Siemens were trading at Rs786.30 on the BSE, up 2.72% from the previous close.