The Siemens consortium with RVNL has teamed up with Bengaluru Metro Rail Corporation Limited (BMRCL) to provide cutting-edge rail electrification technologies.
What Happened: The collaboration was officially announced by Siemens in a press release on Wednesday. The objective of this partnership is to elevate the metro rail services in Bengaluru by integrating Siemens’ state-of-the-art rail electrification technologies.
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Siemens will be working hand in hand with BMRCL to ensure seamless operation of the metro rail services. Total order value is approximately ₹766 crore. Siemens Limited's share as part of the consortium is approximately ₹558 crore.
Siemens will design, engineer, install and commission rail electrification technologies as well as a digital solution comprising supervisory control and data acquisition (SCADA) systems. The project covers 30 stations spanning over 58 kilometres connecting the Bengaluru Airport terminal to the Central Silk Board via KR Puram and two depots.
Shares of the company jumped up sharply as soon as the announcement was made.
RVNL shares have been surging today backed by a slew of orders the company announced bagging on Tuesday.
Price Action: RVNL’s share price was up 8.36% to trade at ₹588.15. Siemens’ share price shot up 0.90% to trade at ₹7,823.80 on Wednesday afternoon.
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