Siemens with Siemens AG, Germany has been awarded a contract worth Rs 287.70 crore by Power Grid Company, of Bangladesh on a turnkey basis for supply of equipment for the 500 MW back to back HVDC project set up at Bheramara in Bangladesh.
This project is being set up under India-Bangladesh Power exchange program and is being funded by ADB. This is the first HVDC project to be excited in Bangladesh. The project is scheduled to be completed within 24 months.
Siemens’ net profit for the quarter declined by 0.86% at Rs 154.78 crore whereas the same was at Rs 156.12 crore for the quarter ended June 30, 2010. Its total Income registered growth of 24.59% at Rs 2798.87 crore for the quarter under review whereas the same was at Rs 2246.40 crore for the corresponding quarter of the previous year.