December 29, 2023
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GE T&D India bags 74 million pound order from GE group’s British arm UK Grid Solutions
GE T&D India on Friday said it bagged an order worth 74 million pound (Rs 785 crore) from UK Grid Solutions Ltd for supply and manufacturing of HVDC Converter Transformer.
Both the entities are part of GE Group and this related party transaction has been approved by shareholders in last annual general meeting held on August 21, 2023, GE T&D India said in a regulatory filing.
The company received the order on December 28 in the normal/ordinary course of business from UK Grid Solutions Limited, it said, adding that the transaction is done at arm’s length.
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