Spanco bags Rs 284 cr contract from PSEB -Governance Now

Spanco bags Rs 284 cr contract from PSEB

Project to be implemented in 14 months

PTI | April 10, 2010

IT infrastructure provider Spanco Ltd today said it has secured a contract worth Rs 284 crore from Punjab State Electricity Board (PSEB) for implementation of information technology infrastructure.

The company has received a letter of intent from PSEB, appointing it as IT infrastructure implementation agency, Spanco said in a filing to the Bombay Stock Exchange (BSE).

The project is part of Restructured Accelerated Power Development & Reforms Programme (R-APDRP) to improve power supply reliability at distribution level and to achieve commercial viability of the state electricity departments.

The contract will be implemented over a period of 14 months, followed by maintenance for 5 years, it said.

Shares of Spanco today closed at Rs 86.75 on BSE, down 2.58 per cent from its previous close

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