Swiss giant ABB signs $900m India electricity deal
Swiss engineering giant ABB said on Thursday it had signed a deal worth more than $900 million (690 million euros) to develop India's electricity supply.
The agreement with India's Power Grid Corporation will see ABB deliver a transmission system to carry hydro-electric power from mountainous northeast India to the populous, central region of Agra, a statement said.
When operating at full capacity, the link will be able to supply 90 million people with electricity 1,700 kilometres (1,050 miles) away.
"HVDC (ultrahigh-voltage direct current) technology is ideally suited for transmission of power, with minimum losses, over long distances and where space is limited," said Peter Leupp, head of ABBs Power Systems division.
"We are pleased to continue supporting India in the development of its power infrastructure."
ABB said it will work on the North-East Agra transmission project with BHEL (Bharat Heavy Electricals Limited), an Indian government-owned power company.
The development costing $1.1 billion in total is scheduled to go into operation in 2015.
© 2011 AFP