December 7, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Triveni Engineering signs deal with GEAE Technologies to make gas turbine components

Noida-based & Industries on Monday said that it has signed a 10-year deal with US’ GEAE Technology to locally manufacture certain components for its LM2500 gas turbine which powers many of the Indian Navy’s vessels.

As part of the deal, Triveni will manufacture the gas turbine’s base frame, enclosure, lubricating oil skid and supply other source-controlled accessories.

The LM2500 is the chosen propulsion gas turbine for the Indian Navy for many of its surface combatant vessels, Triveni claimed in a press statement. It is also used by over 40 other navies globally.

“Triveni Group has a long history of over three decades with indigenous design and development of engineered rotary products for various naval platforms and has a long-term vision of supporting the Indian Navy in self-reliance,” said Tarun Sawhney, the managing director of Triveni.

“Currently, Triveni is working towards providing critical technology and engineered solutions on multiple fronts to Indian Navy and Indian Defence industry,” he said.

The stock of Triveni Engineering & Industries declined 5.76% to Rs 188.25 on the BSE on Monday against a 1.96% fall in the benchmark Sensex.

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