Tata Power receives order worth ~ ₹1,744 crore to implement Smart metering project in Chhattisgarh State Power Distribution Company Limited

Tata Power has received Letter of Award 'LOA' to implement smart metering project in Chhattisgarh State Power Distribution Company Limited (CSPDCL).

The LOA has been issued in conclusion to the tender floated by CSPDCL for three packages for different areas under the Chhattisgarh Discom. Tata Power participated in package 2 and emerged as a winner. The value of Project awarded to Tata Power is ~₹ 1,744 crore and the project will be spanned over a period of 10 years.

Dr. Praveer Sinha, CEO& MD, Tata Power said "We are pleased to announce that we have won a significant order worth ₹ 1,744 crore to implement Smart metering project in Chhattisgarh State Power Distribution Company Limited. It is a testament to our execution expertise in delivering high value and specialized projects which are aimed at transforming the power distribution domain."

The Project shall include Design, Supply, Installation, Commissioning followed by Operation and Maintenance of smart meters at consumer end and at Distribution Transformers level. The project will be executed under Revamped Distribution Sector Scheme (RDSS) and is expected to improve the AT&C losses in the designated area and increase revenue collection for CSPDCL.

CSPDCL is a state-owned electricity distribution company responsible for providing electricity to consumers across the state of Chhattisgarh.

Shares of Tata Power Company Limited was last trading in BSE at Rs. 221.65 as compared to the previous close of Rs. 220.60. The total number of shares traded during the day was 331902 in over 5260 trades.

The stock hit an intraday high of Rs. 223.80 and intraday low of 220.05. The net turnover during the day was Rs. 73730997.00.

Source : Equity Bulls

Keywords

TataPowerCompany INE245A01021 LOA OrderWin SmartMeteringProject Chhattisgarh