CG Power and Industrial Solutions on Tuesday said it has secured an order of Rs 450 crore for supply of railway products for Vande Bharat trainsets. Apart from this purchase order, a separate 35-year service order is also a part of the long-term agreement, a company statement said.

"CG Power and Industrial Solutions Ltd (CG) has entered into a long-term supply agreement with Kinet Railway Solutions Ltd for supply and servicing of railway products including propulsion kits with motors, transformers and various other items," the company said in a BSE filing.

The first purchase order, ranging between Rs 400-450 crore, has been secured by the company for supply of railway products for 10 Vande Bharat trainsets. 

CG Power and Industrial Solutions Limited (CG) which is the erstwhile Crompton Greaves Limited, after spinning off its consumer business, is a pure B2B company spanning two major businesses. These are the Power Systems business unit and the other being Industrial Systems business unit. The company manufactures a range of products from traction motors, propulsion systems and signalling relays to induction motors, drives and transformers. 

Recently, the Company also made a foray into the business of Consumer Appliances such as Fans, Pumps, and Water Heaters. Since its inception 86 years ago, CG has established a strong foothold in the railway industry, offering a comprehensive portfolio that includes traction machines & systems, rail transportation traction electronics, among others.

Since November 2020, the company has become a part of the renowned Murugappa Group. On NSE today, the shres of CG Power gained 2.63 per cent to close the day at Rs 612.15 from the previous close of RS 596.80.