Transformers and Electricals Kerala Limited (TELK), based in Angamaly and jointly owned by the State government and NTPC Limited, has bagged an order worth ₹289 crore for transformers. This is the biggest order in the history of the company, said P.C. Joseph, former MLA and chairman of the company, here in a press release.
TELK has received the order for building 38 transformers of various capacities from the Hyderabad-based Megha Engineering and Infrastructures Limited for the MP Intra State Transmission Package -1 Project in Madhya Pradesh.
The TELK communication said the company bagged the order against stiff competition from both domestic and international players in the field. TELK’s business motto ‘Quality before Quantity, People before Profit’ was the reason for the company winning the order, the communication added.
The transformers are expected to be built and transferred to the client within a year starting January 2024.
The joint venture company has outstanding orders worth ₹353 crore. The new order takes the volume of business to ₹642 crore. TELK has been in an advantageous position being the lowest bidder in many of the ongoing biddings.
TELK has also launched its service and repair facilities for other transformer manufacturers of repute like Nuclear Power Corporation, Neyveli Lignite Corporation, and NTPC. TELK expects repair orders worth ₹16 crore soon, the communication added.
The State government has sanctioned a guarantee of ₹40 crore to TELK for availing credit facility from banks and financial institutions to meet the additional working capital requirements. The company had also invited expressions of interest from banks and financial institutions for providing credit facilities against government guarantee, said Mr. Joseph.
