Automation giant Siemens, along with Rail Vikas Nigam Ltd (RVNL) in a consortium, said they have received two separate orders from Gujarat Metro Rail Corporation Ltd (GMRCL).
Siemens revealed that its share as part of the consortium is Rs 678 crore.
The first order is for Surat Metro Phase 1, which is over 40 kilometres, and covering 38 stations. While the second order is for Ahmedabad Metro Phase 2, which is 28 kilometres, covering 23 stations and 1 depot, Siemens said in a statement.
The Munich-headquartered company will provide project management, rail electrification technologies, including advanced power supply and distribution systems. Siemens will also be providing advanced digital solutions such as Supervisory Control and Data Acquisition (SCADA) solutions for both metros, the company added.
"Siemens takes great pride in being an integral part of the development of Gujarat’s public transportation system through these landmark metro projects. They will play a pivotal role in enhancing the quality of life and the all-around growth of the cities and region.
We would like to thank GMRCL for trusting Siemens in their journey of creating a safer, greener, and smarter transport solution for sustainable cities," said Gunjan Vakharia, head of mobility business at Siemens.
In February, Siemens launches its first industry-ready 5G routers in India. The company said industrial 5G routers provide a connectivity backbone for digital transformation in the manufacturing industry.
For the first quarter, the company's net profit soared over 85 percent to Rs 462.7 crore against Rs 250 crore in the same quarter last year. The company also saw an improvement in its margin, which surged by 440 basis points to 14.9 percent against 10.5 percent in the same quarter last year.
Stocks of Siemens settled at Rs 3,271.30 apiece, up nearly 0.30 percent, when the market closed today, April 20, 2023. However, the stock has declined by nearly 2 percent this week to date.
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