Shares of Crompton Greaves jumped over 2 percent intraday on Friday as its power transformer plant at Indonesia bagged order worth USD 29 million. As part of the order, it will supply extra high voltage transformers for PT PLN‘s Indonesian electricity transmission network. “The order involves supply of 500kV, 275kV and 150kV power transformers, which will be installed across PT PLN’s transmission network in Java and Sumatra islands,” the company said. The Indonesian plant will cater to markets such as Australia, New Zealand, Malaysia and South America. PT PLN (Perusahaan Listrik Negara) is the sole Indonesian government-owned corporation in electricity generation, transmission and distribution in Indonesia. The company informs that manufacturing of the new orders will done at its factory located in Bogor, Indonesia. The facility is equipped to design, manufacture and test transformers up to 550kV class locally in Indonesia.
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