Thermax zoomed 6.5% after securing order worth Rs 545 crore for two FGD systems

Thermax gained 6.5% and hit a day high of Rs 1920 on bagging a Rs 545.6 crore order for two Flue Gas Desulphurisation (FGD) systems.

Thermax Limited has concluded an order of Rs 545.6 crore from an Indian power public sector company to set up flue gas desulphurisation (FGD) systems for their two units of 500 MW capacity each in the state of Uttar Pradesh, India. The FGD systems will be installed at their plant to cut down SOx emissions and comply with the air quality standards set for the power plants.

In the current financial year, this is their second FGD order. Two months back Thermax has concluded a similar FGD systems project from the same entity for Rs 830 crore which was the first FGD order in the current financial year.

“Our proven technological capabilities in the area of air pollution and gaseous abatement, especially FGD, where we are already executing a few large orders, led to this competitive win. In addition to supporting the customer in meeting statutory compliance related to industrial pollution norms, the project reinforces our commitment to the environment," said Ashish Bhandari, MD & CEO, Thermax Limited.

The scope of supply includes design, engineering, manufacturing, civil work, construction and commissioning of the FGD systems. The project is slated to be completed in 30 months.

About

Thermax Limited, a leading energy and environment solutions provider, is one of the few companies in the world that offers integrated innovative solutions in the areas of heating, cooling, power, water and waste management, air pollution control and chemicals. Thermax has manufacturing facilities in India, Europe and Southeast Asia. The sustainable solutions Thermax develops for client companies are environment-friendly and enable efficient deployment of energy and water resources.

The market reacted positively to this news, Thermax had a gap up opening of 2.75% from the previous day close of Rs 1,804. It reached Rs 1,920 as a day’s high and closed at Rs 1,832 which is 1.51% per cent up for the day.