NTDC awards Siemens Consortium contract worth $44.5m

MG News | July 07, 2023 at 11:37 AM GMT+05:00

0:00

July 07, 2023 (MLN): Siemens Consortium has been awarded a contract by the National Transmission & Despatch Company (NTDC), that will contribute around Rs12.3 billion ($44.5 million) to the company’s new order value, Siemens (Pakistan) Engineering (PSX: SIEM) filing on PSX revealed today.

“The project involves the construction of 500/132kV Grid Station at Allama Iqbal Industrial City/M-3 Faisalabad to meet the energy demand of the upcoming Allama Iqbal Industrial City, Faisalabad,” the notice reads.

SIEM is principally engaged in execution of projects under contracts and in manufacturing, installing and selling electronic and electrical capital goods.

While writing this, the share of the company is trading at Rs730, up by Rs31 or 4.44% on the day.

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