ABB Power Products and Systems India on Wednesday announced that it has been awarded a project worth over Rs 124 crore from Bharat Aluminum Company (BALCO).The scope of work involves improving reliability of the power distribution system at BALCO's Korba plant in Chhattisgarh. ABB Power said it is delivering fully engineered 400-kilovolt gas-insulated switchgear (GIS) substations that will replace an existing apparatus to better assimilate power from BALCO's captive generation plants, delivering it with efficiency to the Korba aluminum smelter.
Hitachi ABB Power Grids (listed as ABB Power Products and Systems India) is equipping the substations with its advanced MicroSCADA automation solution to monitor and control the aluminum producer's grid in real time and ensure maximum power availability. It is also deploying its industry-leading 500- megavolt ampere power transformers to further enhance grid efficiency and safety.
Domestic consumption of aluminum is forecast to reach 10 million tons over the next 10 years and key players such as BALCO are preparing to be able to cater to this demand," said N Venu, CEO and Managing Director, Hitachi ABB Power Grids in India. "In this regard, reliable power supply is critical and we are very proud to have been chosen by the company as a trusted partner," he added.
This project is part of Hitachi ABB Power Grids' strategy to be a partner of choice for the Indian industrial ecosystem and highlights its long-standing commitment to deliver digital integration and grid connections without compromising on power quality.
Shares of ABB Power Products were up 0.53% at Rs 1315 on BSE. ABB Power Products and Systems is a global leader and pioneer in power technologies. It serves utility, industry and infrastructure customers across the value chain, and emerging areas such as sustainable mobility, smart cities, energy storage and data centers.
The company reported a 54.9% jump in net profit to Rs 54.96 crore on 6.90% decline in total revenue from operations to Rs 1,043.7 crore in Q4 December 2020 over Q4 December 2019.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)