National Transmission and Despatch Company (NTDC) has awarded Siemens (Pakistan) Engineering (PSX: SIEM) a contract for the construction of a grid station at Allama Iqbal Industrial City in Faisalabad, SIEM informed the Pakistan Stock Exchange on Friday.
“We are pleased to inform that National Transmission and Despatch Company (NTDC) has awarded a contract to Siemens Consortium having an impact of approximately Rs. 12.3 billion ($44.5 million) on the company’s new order value,” the filing read.
“The project involves construction of 500/132kV Grid Station at Allama Iqbal Industrial City/M-3 Faisalabad to meet the energy demand of upcoming Allama Iqbal Industrial City, Faisalabad,” it added.
SIEM deals with the execution of projects under contracts and in the manufacturing, installation, and sale of electronic and electrical capital goods.
The company’s scrip at the bourse closed at Rs. 738.8, up 5.69 percent or Rs. 39.8 with a turnover of 8,900 shares on Friday.
Source: Pro Pakistani