Saturday, January 2, 2010

Cethar Vessels bags Rs 850-cr order from Meenakshi Power

Chennai Jan,2: Cethar Vessels Ltd (K.Subburaj, Chairman), the Tiruchi-based power equipment manufacturer, has bagged an order worth Rs 850 crore from Meenakshi Power Pvt Ltd, an Independent Power Producer that is putting up a 2x300-MW coal-fired thermal power project at Krishnapatnam, Andhra Pradesh.

Cethar will supply the boilers for the power station in 30 months. The contract was formally signed a few days ago.

Earlier, the company had bagged an EPC contract worth Rs 750 crore from Shree Cement which wants to put up two units of 150 MW in Rajasthan.

With the Meenakshi order, Cethar Vessels' order book has swelled to Rs 5,500 crore, the company's Chairman, Mr K. Subburaj, told.

Cethar ended 2008-09 with a turnover of Rs 735 crore. Mr Subburaj expects the current year's turnover to touch Rs 1,250 crore.

Tie-up for supercritical technology
Cethar Vessels has a technology tie-up with Riley Power of the US for sub-critical boilers. Mr Subburaj said Cethar and Riley would sign another collaboration agreement, perhaps this month itself, for technology for supercritical boilers also. Riley Power is a subsidiary of Babcock Power of the US and will have its own arrangements for acquisition of supercritical technology.

Meanwhile, Cethar is also in talks with a few overseas companies for know-how for the manufacture of turbines. Mr Subburaj expects some progress on this front in February

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