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Diamond Power gets Rs. 179 Cr LoA from Adani Electricity

Diamond Power Infrastructure Ltd (DPIL), received a Letter of Award from Adani Electricity Mumbai Ltd (AEML) for the supply of additional medium voltage and low voltage underground power cables for the Mumbai distribution network.

The award is valued at Rs. 179.43 crore inclusive of GST and covers approximately 871 kms of cable in aggregate — 33 kV and 11 kV medium voltage cable together with associated 1.1 kV low voltage cable. Prices are inclusive of packing and forwarding and of freight and transit insurance. The formal purchase order is to be issued by the customer against this Letter of Award.

This is the third consecutive year in which DPIL has been awarded this contract. The repeat award reflects AEML's assessment of the Company's catenary continuous vulcanisation (CCV) manufacturing capability, its in-house testing infrastructure and its record of delivery performance on the Mumbai network. DPIL is also an established supplier of power cables to BEST (Brihanmumbai Electric Supply & Transport Undertaking), the city's other major distribution utility.

At 11.52 am, Diamond Power Infrastructure Ltd was trading at Rs. 388.05, up by 4.99%, with a volume of 1.70 lakh shares on the BSE.