Transformers and Electricals Kerala (TELK) has bagged an order worth Rs 289 crore from Hyderabad-based Megha Engineering and Infrastructures (MEIL) for transformers.
The Angamaly-based firm will be responsible for building 38 transformers of various capacities for the Intra-state transmission Package -1 project in Madhya Pradesh. The transformers are expected to be built and transferred to MEIL within a year starting January 2024.
TELK has also launched its service and repair facilities for other transformer manufacturers such as Nuclear Power Corporation (NPCIL), Neyveli Lignite Corporation, and NTPC. TELK, jointly owned by the state government and NTPC, has outstanding orders worth Rs 353 crore.
The state government has sanctioned an assurance of Rs 40 crore to TELK for availing credit facilities from banks and financial institutions to meet the additional working capital requirements. Further, the company had also invited expressions of interest (EoI) from banks and financial institutions for providing credit facilities.