ABB Ltd.
(
ABB
) will provide its power solution for the upcoming metro rail
network for Jaipur, capital of Rajasthan, India. The contract was
awarded by Delhi Metro Rail Corporation Limited (
DMRC
) and is valued at $15 million. The first-quarter bookings of ABB
includes this contract.
The contract is a part of the Jaipur Mass Rapid Transport System
(MRTS), an eco-friendly project being developed to facilitate
transport for 11,000 people every hour on each rail corridor. The
project will reduce the problems related to traffic on road and
emissions from cars.
ABB Ltd. will be responsible for design, supply, installation
and commissioning of essential power infrastructure for stage 1 of
the East-West Corridor of the Jaipur Mass Rapid Transport System
(MRTS) and will also provide 11 auxiliary substations.
Reliable and efficient power supply solutions from ABB helped in
meeting the goals of the Jaipur project. ABB has a vast work
experience in rail industry, with a range of technology,
facilitating in the urbanization, economic development and
pollution control in the emerging markets.
Moving ahead, the emerging markets will be a significant growth
driver for the company, with a need for high efficiency power
transmission technologies. Demand in mature markets is also
expected to improve. Customer capital expenditures have increased
with the rise in commodity prices. Increased capacity in some
later-cycle infrastructure-related businesses continues to
exist. In many sectors, price stability has been attained.
ABB has increased its prices to offset increasing raw material
costs.
ABB Ltd. is a Zurich (Switzerland) based power and
automation technology company. The company operates in
approximately 100 countries, structuring its global organization
into five regions: Europe, Americas, Asia, the Middle East and
Africa. A major competitor of ABB Ltd. is
Siemens AG
(
SI
).
Currently, we maintain a Zacks #3 Rank (short-term Hold
recommendation) on ABB Ltd.
ABB LTD-ADR (
ABB
): Free Stock Analysis Report
SIEMENS AG-ADR (
SI
): Free Stock Analysis Report
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