Areva T&D bags Rs 400 cr UP Power project

Energy transmission and distribution firm Areva T&D India today said it has bagged a contract worth Rs 400 crore from Uttar Pradesh Power Transmission Corporation for building a substation. The company's transmission and distribution division will build a 765 KV extra high voltage substation at Anpara thermal plant in Uttar Pradesh, Areva T&D said in a filing to the Bombay Stock Exchange (BSE). "We believe the extra high voltage segment is poised for rapid growth and our strong partnership with Indian state utilities puts Areva T&D in a powerful position to capitalise on the emerging opportunities," Areva T&D's Systems Business Executive Vice President Michel Augonnet said. The new substation would help in improving power transfer capacity from eastern UP to western part of the state. The project is scheduled for completion by the end of 2011, the filing added. Shares of Areva T&D India were trading at Rs 277 on the BSE, up 0.91 per cent from previous close.