ABB Power Products bags orders worth Rs 160 crore to supply transformers for Indian Railways

On Wednesday, ABB Power Products & Systems India announced that it has won orders to power electric freight locomotives for the Indian Railways from the Government of India's electric locomotive manufacturer, Chittaranjan Locomotive Works (CLW), and the Central Organisation for Rail Electrification (CORE) for a total consideration of Rs 160 crore. 

For the CLW order, the company will deliver traction transformers for one of Indian Railways' most successful class of locomotives, the WAG 9, which was developed in response to strong growth in the rail freight transportation sector. For CORE, it will supply trackside transformers. 

Indian Railways is aiming to create a future-ready railway system, bringing down logistics costs for industry and supporting the 'Make in India' initiative. The above-mentioned order aligns with the government's goal of making Indian Railways a net-zero carbon emitter by 2030 and achieving 100 per cent rail electrification by December 2023. 

At the time of market close on Wednesday, ABB Power Products & Systems India Limited was trading at Rs 1,371.85, down by 0.41 per cent or Rs 5.70 per share. The 52-week high of the company is recorded at Rs 1,656 while its 52-week low is Rs 714 on BSE.