CG Power and Industrial Solutions on Tuesday said it has secured an order of Rs 450 crore for supply of railway products for Vande Bharat trainsets.
Apart from this purchase order, a separate 35-year service order is also a part of the long-term agreement, a company statement said.
” CG Power and Industrial Solutions Ltd (CG) has entered into a long-term supply agreement with Kinet Railway Solutions Limited for supply and servicing of railway products including propulsion kits with motors, transformers and various other items,” the company said in a BSE filing.
The first purchase order, ranging between Rs 400-450 crore, has been secured by the company for supply of railway products for 10 Vande Bharat trainsets.
Since its inception 86 years ago, CG has established a strong foothold in the railway industry, offering a comprehensive portfolio that includes traction machines & systems, rail transportation traction electronics, among others.
The company is a leader in the Electrical Engineering Industry and has two business lines-Industrial Systems and Power Systems.
Since November 2020, the company has become a part of the renowned Murugappa Group.