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Siemens bags Rs 55 crore order from Algeria's Sonelgaz Group

Saturday, May 30, 2015

Siemens Ltd today said it has bagged an order worth about Rs 55 crore for supply of high voltage circuit breakers from an arm of the state-run Sonelgaz Group of Algeria.

The circuit breakers will be installed in various substations across Algeria.

"It (the company) has won an order, together with Siemens Algeria, for approximately Rs 55 crore for supply of High Voltage Circuit Breakers from Comptoir Algerien du Materiel Electrique et Gazier (CAMEG Spa), a subsidiary of the Sonelgaz Group (state-owned utility in charge of electricity and natural gas distribution company in Algeria)," Siemens Ltd said in a BSE filing today.

Siemens is the flagship listed company of Siemens AG in India and is a major player in the electronics and electrical engineering business.

Germany's Siemens AG holds a 75 per cent stake in its Indian arm.

Siemens Ltd stock closed at Rs 1,387.65, up 1.89 per cent on the BSE.

 

economictimes.indiatimes.com

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