ABB Power rises on winning Rs 165 cr order from IOCL

ABB Power Products and Systems gained 1.07% to Rs 807 after the company said it won a project worth Rs 165 crore by state-owned refiner Indian Oil Corporation to ensure reliable grid connection at its Barauni refinery in Bihar.

The refiner aims to expand its crude oil processing capacityat the plant by 50% to 9 million tons per annum in the next three years. And this project will ensure power quality for its future operations there, ABB Power Grids said in a statement today, 20 April 2020.

ABB Power Products will deliver its 220/33 kilovolt gas-insulated switchgear (GIS) substation which will assimilate power from the Bihar State Power Transmission Corporation and IOCL's captive generation plants and deliver it with efficiency to the Barauni refinery. The GIS substation will also save space by as much as 70%, by virtue of its compact, robust and low-maintenance design.

In addition to this, ABB Power Grids is equipping the substation with its advanced substation automation and network management tools to control and protect IOCL's grid real-time and ensure maximum power availability. It is also deploying its industry-leading power transformers (125 mega volt amps) to further enhance grid safety and efficiency.

Commenting on the order win, N Venu, Managing Director, ABB Power Grids India said, This order from IOCL is a milestone in our grid integration projects that will allow us to play a more active role in meeting future energy demand with our pioneering technology solutions. As India's oil demand is expected to reach 6 million barrels per day by 2024, refineries will have to prime themselves ahead of time to avoid potential supply disruptions.

ABB Power Grids is a global leader and pioneer in power technologies.

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