Torrent Power Ltd said it signed a turnkey engineering, procurement and construction (EPC) contracts with Germany-based Siemens AG, and its Indian unit Siemens Ltd, for two projects. No financial details were disclosed.
The two projects are UNOSUGEN, the 382.5 MW gas based combined cycle power project-the capacity expansion at the existing Sugen mega power project) and the greenfield DGEN project at Dahej SEZ, the 1,200 MW gas based combined cycle power project.
While UNOSUGEN is being established under Torrent Power Ltd, DGEN is being established under Torrent Energy Ltd, the wholly-owned subsidiary of the company. Thus, approximately 1,600 MW power generation capacity would be added in the Torrent fold within the next three years.
On Friday, Torrent Power shares closed 2.5% higher at Rs348, and Siemens shares closed 0.22% up at Rs719 on the Bombay Stock Exchange. While the Sensex ended at 0.28% down at 17,460 points.
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