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| Exchange Disseminated Time | Cubex Tubings Ltd has announced that the Company has received an order of Rs 80 million from National Thermal Power Corporation Ltd (NTPC) for seamless solid drawn condenser tubes. The Company has been awarded the contract under global competitive bidding.
Seamless solid drawn condenser tubes are made of copper and nickel base alloy. These tubes are used by thermal power plants such as NTPC and other power generation plants for heat transfer activity. The Company is a pioneer and leader in the manufacture of these tubes. The Company has participated in other tenders aggregating Rs 500 million of NTPC and is expecting a major share of these tenders.
Power sector is the largest user of copper extrusions. In addition to the demand from new power plants, there is a huge potential for replacement of copper tubes in the existing power plants. NTPC is largest power generating Company in the country with a share of over 25%. NTPC is the largest customer of the Company. Other customers of the Company in the power sector include GE Power, Siemens, MSEB, CSEB, MPSEB, APGENCO, etc.
Copper offers significant advantages over aluminium in cutting down transmission and distribution losses and hence there is a shift towards copper-based transformers. State Electricity Boards have to reduce transmission and distribution losses in order to meet Accelerated Power Development Reforms Programme (APDRP) criterion.
Commenting on the order, Mr. Surendra Bhandari, Chief Executive said, "We have won this prestigious order due to the excellent quality of our products. Massive investments being made in the power sector will boost demand for our products." |
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