Close on the heels of winning contracts in China, Iraq and
) has now won an order from the Norwegian Transmission System
Operator, Statnett SF. ABB will be responsible for the
construction of two 420 kilovolts (kV) transmission substations.
ABB received the order during the second quarter and expects to
complete the project by the second half of 2014.
The construction of these two substations is a part of the
overall initiative undertaken by the Norwegian Transmission
System Operator to expand and strengthen the nation's power grid.
These substations are expected to increase the grid's capacity
and enhance power reliability.
According to the contractual agreement, ABB will be required
to design, supply, install and commission the substations.
Additionally, ABB will supply circuit breakers, air-insulated
switchgear as well as other high-voltage equipments.
ABB is the world's largest supplier of turnkey air-insulated,
gas-insulated and hybrid substations with voltage as high as
1,100 kV. These substations are eco friendly and help in
efficient and reliable transmission and distribution of
The construction of the two substations is a part of the
Eastern Corridor Project, whereby Statnett SF is planning this
upgrade to help in the development of renewable energy and power
exchange with the continent. It will further boost industrial
development. The two substations, Bamble and Grenland, will be
constructed along the newly proposed 420 KV transmission line
between Bamble and Rød in southern Norway.
Based in Zurich, Switzerland, ABB Ltd. is a power and
automation technology company and currently has a Zacks Rank #3
(Hold). Some other players in the same industry, which can be
considered for buying are
Orion Marine Group, Inc.
Willdan Group Inc.
), with a Zacks Rank #1 (Strong Buy). Another peer,
Chicago Bridge & Iron
) is also a good pick and it carries a Zacks Rank #2 (Buy).
ABB LTD-ADR (ABB): Free Stock Analysis Report
CHICAGO BRIDGE (CBI): Free Stock Analysis
ORION MARINE GP (ORN): Free Stock Analysis
WILLDAN GROUP (WLDN): Get Free Report
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