CG Power Bags Rs 450 Crore Order for Vande Bharat Products

CG Power and Industry Solutions reported on Tuesday that it has secured an Rs450Cr deal to supply railway products, it is a incredible investment for Vande Bharat trainsets. The company also stated that a separate 35-year service order is part of the long-term agreement.

" CG Power and Industrial Solutions Ltd (CG) has entered into a long-term supply agreement with Kinet Railway Solutions Limited for supply and servicing of railway products including propulsion kits with motors, transformers and various other items," the company said in a BSE filing.

Offering a wide range of products, including rail transportation traction electronics and traction machines and systems, CG has solidified its position in the railway sector since its founding 86 years ago. The company operates under the business lines of Industrial Systems and Power Systems and is a leader in the Electrical Engineering sector. To expand its operations, it joined the well-known Murugappa Group in November 2020.

This move aligns with CG Powers' strategic goal of growing its market share in the railway solutions sector and demonstrates the company's dedication to helping India's domestic high-speed train project, the Vande Bharat Express. With this most recent agreement, CG Power has established itself as a reliable partner for railway electrification projects in India. The company's participation in the Vande Bharat initiative is anticipated to increase its revenue streams in Indian market, improve its brand reputation, and create new opportunities in the railway infrastructure and manufacturing ecosystem.