Hitachi Energy Stock Gains On Rs 790 Cr Order From Its Subsidiary
The Rs 790 crore order is scheduled to be executed over a period of four years
Stocks of Hitachi Energy India rose as much as 3 per cent in the Tuesday trading session after it received Rs 790 crore order from its fellow subsidiary, Hitachi Energy Australia.
Hitachi Energy (Power India) stock traded at Rs 11,697 with 0.75 per cent gain in the afternoon session on the National Stock Exchange (NSE).
“With reference to the captioned subject, we would like to inform you that Hitachi Energy India has received an order valued approximately Rs 790 crore from Hitachi Energy Australia, a fellow subsidiary,” said Hitachi Energy in an exchange filing.
The order included execution of Project – Marinus Link – Voltage Source Converter (VSC) high voltage direct current (HVDC) links between Tasmania and Victoria for supply of certain equipment for execution of the project -Burnie Converter Station and Latrobe Valley Converter Station.
The Rs 790 crore order is scheduled to be executed over a period of four years.
Marinus Link selected Hitachi Energy to supply a HVDC project in Australia. Hitachi Energy will supply its HVDC Light VSC stations for the project.
Delivery of certain equipment will be executed from the Company’s factory in India.
Marinus Link is a project of national significance for Australia. It will play a fundamental role in Australia’s energy ecosystem, and the Company will play a crucial role in supporting it.
