GE T&D Bags Orders Worth €155 Million
The orders fall within related-party transactions, which are done at arm's length.
Source: Envato
GE T&D India Ltd. has bagged orders from Grid Solutions Middle East FZE, Dubai, and Grid Solutions SAS, France, for supply of high-voltage products according to exchange filings on Wednesday.
Grid Solutions Middle East contracted the company for an international deal worth €55 million that will take up to five years to complete. Grid Solutions SAS contracted the company for an international deal worth €100 million that is meant to be completed by 2029, it said.
The order has been received from the group company and these products will form a part of the overall project being executed by the group company for the end customer. The orders fall within related-party transactions, which are done at arm's length, the filing said.
Shares of GE T&D closed 1.54% higher at Rs 1,723.35 apiece on the BSE, compared to a 0.49% decline in the benchmark Sensex.
