BGR Energy emerges lowest bidder for NTPC contract; shares jump 14 pc

NEW DELHI: BGR Energy today said it has emerged as the lowest bidder for supplying nine units of 800 MW steam turbine and generator systems to NTPC.

Amid the news of the winning bid, shares of BGR Energy Systems soared over 14 per cent to close at Rs 367.65 on the Bombay Stock Exchange.

"The company has emerged as the lowest bidder in the tender called for by NTPC Limited for supply of nine units of 800 MW steam turbine and generator units," BGR said in a regulatory filing after the market close.

Among others, BGR Energy is into turnkey engineering and contracting for Balance of Plant (BoP) as well as offering engineering, procurement and construction services for power projects.

According to the company, it is awaiting complete technical and commercial details of bids in this regard.

"However, we have gathered that we are the lowest bidder and would be awarded with contract for supply of five steam turbine and generator units for a value of about Rs 3,500 crore," the filing noted.