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| Exchange Disseminated Time 10/08/2016 14:22:57 | BGR Energy Systems Ltd has informed BSE that the contract for a value of Rs. 1901.57 Crores with Damodar Valley Corporation ("DVC") for supply of 2 x 660 MW Steam Generator ("SG") package by the Company for Raghunathpur Thermal Power Project, Phase - II has been terminated.
The customer - DVC has now confirmed that the power project RTPS Phase -II, for which the SG package were to be supplied, will not be executed and hence short closed the contract with the Company by exercising the right of termination for "Employer's convenience". Consequently, the Company has struck-off the contract from the order book and is initiating steps for recovery of cost and certain payments and settlement in terms of the contract.
Consequent to the termination of this contract the current order book value of the Company is Rs. 5461 Crores. |
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