Alstom India rallies 4% on bagging contract from BHEL

MUMBAI: Shares of Alstom India rallied as much as 4 per cent in early trade after the company announced that Alstom has been awarded a contract worth approximately Rs 679 crore (i.e. approximately € 85 million) by Bharat Heavy Electricals Limited.

The contract is to supply two 800 MW supercritical boilers for Darlipalli super thermal power project (STPP) located in Sundergarh, in the State of Odisha.

This project forms part of NTPC Limited's Bulk 800 MW tender. Under the scope of the contract, Alstom - the sole licensor for BHEL supercritical technology - will design the 800 MW supercritical boilers and supply identified pressure parts along with windboxes, pulverizers and airpreheater components.

The Group will also assist BHEL with technical advisors during the erection and commissioning of the units. Key components will be manufactured in Alstom's facilities in Concordia and Wellsville, USA, as well as in Durgapur and Shahabad, India. The units are expected to be commissioned starting in 2017.

Out of the entire aforesaid contract, please note that ALSTOM India Limited's scope of work would be approximately Rs 379.8 crore (i.e. approximately €47 million).

At 09:35 a.m.; the stock was at Rs 358.30, up 2.52 per cent, on the BSE. It touched a high of Rs 363.50 and a low of Rs 355 in trade today.