Power and automation technology firm ABB has bagged a contract worth Rs 256 crore from the Ceylon Electricity Board (CEB) to supply two 220 kV substations and upgrade an existing substation in Sri Lanka.
Power and automation technology firm ABB has bagged a contract worth Rs 256 crore from the Ceylon Electricity Board (CEB) to supply two 220 kV substations and upgrade an existing substation in Sri Lanka.
The new substations will be constructed at Polpitiya in the Central Province and Padukka near the capital, Colombo, in the Western Province, while the existing substation at Pannipitiya, a suburb of Colombo, will be augmented, a release issued here said today. The project is scheduled for completion in 2017.
As part of the turnkey contract, ABB will design, engineer, supply and commission the substations and provide high-voltage air-insulated switchgear, medium-voltage indoor gas-insulated switchgear, power transformers, IEC 61850-compliant protection and substation automation, and fiber-optic communications systems. The Sri Lankan government plans to install additional power generation capacity of over 2,500 MW and to increase the share of renewable energy in the national grid to about 20 percent by 2020. The new infrastructure is being deployed as part of the country's Clean Energy and Network Efficiency Improvement Project, which aims to strengthen the national grid by increasing capacity and enabling greater integration of renewables as well as reducing losses and enhancing power reliability, the release said.
"We are pleased to support Sri Lanka's efforts to develop a reliable grid. These substations will address the growing demand for electricity and boost transmission capacity," ABB India Managing Director Bazmi Husain said.
ABB stock price
On January 09, 2015, ABB closed at Rs 1267.85, down Rs 21.7, or 1.68 percent. The 52-week high of the share was Rs 1396.70 and the 52-week low was Rs 568.05.
The company's trailing 12-month (TTM) EPS was at Rs 9.58 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 132.34. The latest book value of the company is Rs 126.35 per share. At current value, the price-to-book value of the company is 10.03.
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