CG Power Systems wins $55 mn order from Indonesian firm

Mumbai, Feb 12 (IANS) CG Power and Industrial Solutions Ltd said on Monday its wholly-owned subsidiary has won an order worth $55 million from state-run Indonesian utility PT PLN (Persero) to manufacture and supply 64 units of power transformers.

CG Power Systems Indonesia is a wholly owned subsidiary of Avantha Group company CG Power and Industrial Solutions, formerly Crompton Greaves.

"CG Power Systems Indonesia has bagged an order from ... PT PLN (Persero) for manufacturing and supply of 64 units of power transformers valued at $55 million," the company said.

"This project is the first of its kind to be funded by the Islamic Development Bank to support PLN's ambitious goal to enhance its transmission grid performance," it added.

CG Power said it will complete the supplies against the order by December 2018.

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