Siemens India wins $900m Qatar deal
Officials consider the contract as a vote of confidence for the Indian unit of the global giant, reports M Rajendran.india Updated: Nov 23, 2006 05:33 IST
A consortium of Siemens India Ltd and its German parent, in which the Indian unit holds 90 per cent, has bagged a record Rs 4,000 crore order for a comprehensive turnkey project for the installation of power transmission lines.
This was from Qatar’s ministry for electricity and water distribution in the face of intense competition from international players in the transmission and distribution equipment business.
Industry officials consider the contract, scheduled for completion by February 2009, as a vote of confidence for the Indian unit of the global giant.
This is the biggest order won so far by the either PTT Germany, the power transmission division of Siemens' German unit, or its Indian counterpart.
Anil Kamath, VP in Siemens India’s power and transmission business, said that the contract was of critical significance. "It is a major breakthrough for India as it brings the Indian unit into the limelight and on to the world stage," Kamath said.
He said this was the third instance where the 90-10 consortium with the Indian unit in the lead had bagged an order from Kharamma, the local name for the Qatar ministry. But the earlier two orders were worth only Rs 2,000 crore, Siemens officials said.
Under the contract, the Indian unit would supply control and relay panels.
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First Published: Nov 23, 2006 05:33 IST