Saudi Zamil's India unit wins $68.5m solar power deal in Guj

Discussion in 'Economy & Infrastructure' started by ejazr, Sep 28, 2011.

  1. ejazr

    ejazr Stars and Ambassadors Stars and Ambassadors

    Oct 8, 2009
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    Hyderabad and Sydney
    Just an example of Indo-Saudi trade that doesn't involve hydrocarbons

    Zamil's India unit wins $68.5m solar power deal |

    Zamil Industrial’s Indian unit has won one of the largest solar EPC contracts in Gujarat worth SAR 256.6m ($68.5m).

    Zamil New Delhi Infrastructure Private Limited, a contractor mainly in telecommunications 51% owned by the Saudi conglomerate, will build a 20 MW plant for PLG Photovoltaic Limited, a solar project investor and developer.

    The Zamil subsidiary will act as project manager and supply designs and drawing, civil and structural engineering, and erection and commission of the project under the guidelines of GETCO.

    The facility will be fitted out with some of the latest technology in the solar energy sector, according to Zamil’s stock market notification of the project. Japan’s Kyocera and Italy’s PowerOne will act as two lead suppliers of power to the site.
    This year PLG Power signed contracts with the Gujurat government to build 70 MW worth of plant power, including the 30 MW with Zamil and 40 MW with Gujarat Urja Vikas Nigam Limited (GUVNL). The first 10 MW phase is expected to be grid connected this year, while all four phases are scheduled to be completed by the end of the year.

    The company aims to have signed contract to install facilities to provide 200 MW of solar power by the end of 2012, it has said. India as increasingly turned to alternative forms of energy in the last few years to curb the reliance on imports of coal and other non-renewable sources as the country’s population and economy grows.

    The Indian Planning Commission has forecast the country faces 12 percent electricity shortfalls during hours of peak consumption. KPMG, the professional services company, has estimated that investment in solar and other ‘clean’ energy sources would save the country $5.5bn in coal imports.

    The New Delhi unit is part of Zamil Industrial Investment Company, the listed Saudi conglomerate that is part of Zami Group, with business lines in steel manufacture, mirrors, glass, air conditioning and insulation.

    The company’s shares rose 1.1% yesterday in Riyadh to close at SAR 27.1.
  3. Yusuf

    Yusuf GUARDIAN Administrator

    Mar 24, 2009
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    Zamil is huge in the Pre Engineered Building industry in India. Not able to make a cut into its fasteners procurement :(

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