GE Power India terminates Rs 818.3 crore worth of contract with NECL

GE Power India Limited on Thursday said that “It has terminated a contract with Navayuga Engineering Company Ltd (NECL).”

The company in its filing at the stock exchange said, “GE Power India Ltd had intimated the BSE on January 10, 2018, with a contract worth approximately Rs 8.13 crores awarded to it by NECL for design, engineering, manufacturing, supply, erection, testing and commissioning of 12 full Kaplan Turbine Generator units of 80MW capacity each along with all auxiliary and associated equipment.”

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“We would like to notify you that, the company has exercised its right to terminate the aforesaid contract due to prolonged suspension of work by NECL without any virtual certainty of resumption of work in the near future,” it said.