Wednesday, October 17, 2012

Ethiopia: Fedders Lloyd Wins $53.08 Mln. Overseas Contracts

(Oct 17, 2012, RTT Neews)--Fedders Lloyd Corporation Ltd. said it had won orders aggregating to $53.08 million from Africa. The order from the Government of Ethiopia was for $34.5 million for supply of distribution transformers and cables and other accessories for Ethiopia Electric Power Corporation funded by Government of Ethiopia.

The company's global infrastructure unit also recently bagged a contract for $18.58 million from the state-owned Power Holding Company of Nigeria Plc., Nigeria, for supply and installation of 330/132kV and 132/33kV substations on turnkey basis, with World Bank being the funding agency.

With this, the company has bagged international orders worth $53.08 million in power distribution sector in the last three months, which is to be commissioned and implemented over a period of 24 months. The company is also operating their business activities in other African countries such as Nigeria, Ghana, Uganda, Rwanda and Kenya.

At the NSE, Fedders Lloyd Corp shares are currently trading at Rs.57.90, up 2.84 percent from the previous close. Read more from RTT News »

No comments:

Post a Comment