GE Power India terminates Rs 818-cr contract with NECL

New Delhi: GE Power India on Thursday said it has terminated a contract with Navayuga Engineering Company Ltd (NECL) for supply of 12 turbine generators worth Rs 818.3 crore.

GE Power India Ltd had intimated the BSE on January 10, 2018 about a contract worth approximately Rs 8,183 million awarded to it by NECL for design, engineering, manufacturing, supply, erection, testing and commissioning of 12 full Kaplan Turbine Generator units of 80 MW capacity each along with all auxiliary and associated equipment, GE Power said in a filing to the BSE.

"We would like to notify that, the company has exercised its right to terminate the aforesaid contract due to prolonged suspension of work by NECL without any virtual certainty of resumption of work in near future," it said.