Industrials
India
T&D: PGCIL ordering remains buoyant; foreign vendors taking away lion’s share.
PGCIL awarded Rs60 bn of orders in the seasonally weak 1Q with award of 3,000 MW
HVDC terminal. The trend of more than 50% of equipment ordering going to foreign
vendors has sustained and in 1QFY13 even substation ordering has followed the trend.
The competitive intensity continues to increase with entry of new players in substations
(New North East Electric, China and East Green Power, Singapore) and towers (NCC
Saudi Arabia). 765 KV transformer pricing does not show any pick-up with recent ABB
bid of Rs100 mn/unit.
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link: http://www.kotaksecurities.com/pdf/indiadaily/indiadaily18072012zl.pdf
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