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The power sector is keeping up a steady stream of orders for a starved engineering industry. Siemens, the Indian subsidiary of German engineering major Siemens AG, has got an Rs 360 crore order from Power Grid Corporation of India. The orders are to supply two 765kva substation packages to be set up at Gaya in Bihar and Ranchi in Jharkhand.
Continue ReadingThe company was making single stage and multi stage steam turbines with a capacity of up to 45mw for industrial applications. Steam turbines can be used for various purposes, as a pump drive (feedwater pumps for large boilers), generator drive, compressor drive and waste to energy applications (source: www.siemens.com). The Vadodara factory was set up with an initial investment of Rs 30 crore and after this expansion will be able to make turbines with a capacity of up to 100mw.
Continue ReadingSiemens Information Systems Ltd (SISL) seems to have been sold at a relatively cheap valuation, by Siemens, to a privately owned company of Siemens AG. Siemens said that SISL, which had revenues of Rs 994 crore and PBT of Rs 73 crore for the year ended September 2008, has been valued at Rs 449 crore.