National Transmission & Despatch Company (NTDC) has chosen Siemens (Pakistan) Engineering to undertake the construction of a grid station at Allama Iqbal Industrial City in Faisalabad, according to a statement made by SIEM to the Pakistan Stock Exchange.
Contract Details and Value
The contract, with an estimated value of approximately Rs. 12.3 billion ($44.5 million), will significantly contribute to Siemens‘ new order value. The announcement read, “We are pleased to inform that National Transmission & Despatch Company (NTDC) has awarded a contract to Siemens Consortium having an impact of approximately Rs. 12.3 billion ($44.5 million) on the company’s new order value.”
Project Scope and Purpose
The project entails the development of a 500/132kV Grid Station at Allama Iqbal Industrial City/M-3 Faisalabad, aimed at meeting the growing energy demand of the upcoming Allama Iqbal Industrial City in Faisalabad. The filing stated, “The project involves construction of 500/132kV Grid Station at Allama Iqbal Industrial City/M-3 Faisalabad to meet the energy demand of upcoming Allama Iqbal Industrial City, Faisalabad.”
Additional Information
SIEM specializes in the execution of projects under contracts, as well as the manufacturing, installation, and sale of electronic and electrical capital goods. The company’s scrip at the bourse closed at Rs. 738.8, up 5.69 percent or Rs. 39.8 with a turnover of 8,900 shares on Friday.
