Thermax Group secures an order valued at Rs. 513 crore from a leading industrial conglomerate

Thermax Babcock & Wilcox Energy Solutions Limited (TBWES), a wholly owned subsidiary of Thermax has concluded an order of Rs. 513 crore from a leading industrial conglomerate, setting up a 600 MW greenfield energy project in Botswana, Southern Africa.

TBWES will supply two 550 TPH CFBC (circulating fluidised bed combustion) boilers over a period of 23 months. This order will support the development of the first phase i.e. the 300 MW power station being established by the customer.

The designing, engineering, manufacturing, testing, supply, supervision of erection & commissioning, and performance testing will be undertaken by TBWES.

The power generated is intended for sale to the national utility power company for sustaining the growing power requirement of the country.

"We are delighted to win the order to support and accelerate power generation efforts in the region of Botswana. Our expertise in design, engineering and manufacturing boilers focussed on lower emissions, reduced operating costs and higher reliability for the power sector through TBWES has led to this win. We look forward to being a part of the larger energy project in the Southern African region and provide services globally," said, Ashish Bhandari, MD & CEO, Thermax.

TBWES provides equipment and solutions for generating steam for process and power through the combustion of various solid, liquid and gaseous fuels, as well as through heat recovery from turbine/engine exhaust and (waste) heat recovery from industrial processes. TBWES also offers heaters for various applications in the chemical, petrochemical and refinery segments. Its services arm offers renovation and modernisation solutions for old boilers and heaters.

Shares of Thermax Limited was last trading in BSE at Rs. 5287.10 as compared to the previous close of Rs. 5300.85. The total number of shares traded during the day was 3730 in over 1003 trades.

The stock hit an intraday high of Rs. 5358.05 and intraday low of 5259.45. The net turnover during the day was Rs. 19736663.00.

Source : Equity Bulls

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Thermax INE152A01029 ThermaxBabcockandWilcoxEnergySolutions OrderWin