CG Power today secured the CG Power railway contract with Kinet Railway Solutions for advanced railway products. The initial order includes propulsion kits for 10 Vande Bharat trainsets. This is reported by the railway transport news portal Railway Supply.

CG Power today secured the CG Power railway contract with Kinet Railway Solutions for advanced railway products. The initial order includes propulsion kits for 10 Vande Bharat trainsets
File photo: Vande Bharat Express

CG Power Railway Contract Details Unveiled

The company clinched a 35-year service deal, ensuring steady income and reinforcing its railway sector leadership. Consequently, CG Power’s stock closed at $729.17, gaining $18.67 or 2.63 percent today.

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The company boasts 86 years of expertise, delivering traction machines, propulsion systems, and signaling products nationwide. Recently, CG Power expanded into the Train Collision Avoidance System (KAVACH) domain.

Headquartered in Mumbai, CG Power operates 18 manufacturing plants across India and Sweden, employing around 3,113 workers. Moreover, the firm reported consolidated revenue of $9,576 million in fiscal year 2024.

Since joining the Murugappa Group in November 2020, CG Power thrives under a 123-year-old conglomerate with diverse interests. The group, with nine listed companies, earned $8,831 million across multiple sectors.

CG Power Railway Contract Boosts Industry Standing

This major deal highlights CG Power’s growing role in India’s railway industry, enhancing its reputation and market presence significantly. Meanwhile, the Vande Bharat project supports national goals for modernized rail transport systems.

Experts predict this agreement will spark CG Power’s growth, driving innovation and creating jobs in railway equipment soon. Thus, the company cements its position, delivering cutting-edge solutions for rail expansion plans.

CG Power’s leadership expressed confidence, noting the deal reflects trust in their capabilities and quality products consistently. Additionally, the long-term service agreement provides a reliable revenue stream for future investments.

Investors welcomed the news, and analysts anticipate CG Power’s stock will sustain upward momentum in coming months. For now, the company prioritizes executing the order and ensuring top performance standards.

The Murugappa Group’s support bolsters CG Power’s financial stability, enabling bold moves in competitive railway markets. Therefore, this partnership with Kinet Railway Solutions promises sustained growth and innovation ahead.

Source: www.thehindubusinessline.com

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