Siemens Consortium Awarded Rs. 12.3 Billion Contract by NTDC for Grid Station Construction
The National Transmission & Despatch Company (NTDC) has granted Siemens (Pakistan) Engineering (PSX: SIEM) a significant contract for the construction of a grid station at Allama Iqbal Industrial City in Faisalabad, as announced by Siemens in a filing to the Pakistan Stock Exchange on Friday.
In the filing, Siemens stated, “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.”
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The project entails the construction of a 500/132kV Grid Station at Allama Iqbal Industrial City/M-3 Faisalabad, aiming to meet the growing energy demand of the upcoming Allama Iqbal Industrial City in Faisalabad.
Siemens (Pakistan) Engineering specializes in executing projects under contracts and engages in the manufacturing, installation, and sale of electronic and electrical capital goods.
On Friday, the company’s shares at the stock exchange closed at Rs. 738.8, reflecting a 5.69 percent increase or Rs. 39.8. The trading volume stood at 8,900 shares, highlighting the market’s positive response to the contract announcement.