ICSA bags order from AP power distribution company

Mumbai, Feb 21 (UNI) ICSA (India) Limited, a leading provider of embedded technology to check losses in the power sector, has secured contracts worth Rs 32.30 crore from Andhra Pradesh Central Power Distribution Company.

The order involves erecting, testing and commissioning of 33/11 KV sub-stations in four districts namely Mahabubnagar, Medak, Kurnool and Nalgond of Andhra Pradesh on total turnkey basis. The projects are slated to be completed within a period of three months, said a company release here today.

These orders consolidate ICSA's presence in Andhra Pradesh bringing the number to 15 projects in AP alone. ''The ICSA undertakes power projects across the country and we want to balance our orders evenly between private and public sector companies,'' Company managing director G Bala Reddy said in the release.

ICSA has attracted foreign investment to the tune of USD 52 million. Citigroup Venture Capital International Growth Partnership Mauritius Limited (CVC) is acquiring around 14 per cent stake in the company with an investment of USD 30 million and Goldman Sachs will also be investing USD 22 million in ICSA through FCCBs.

ICSA and Oil India Limited have recently received provisional patent for iCAP, an innovative technology that improves efficiency of conventional Cathodic Protection, forecasts pilferage/pipeline tampering in real time and improves the life of pipelines to achieve design life and eliminates the requirement of expensive conventional measurements. This system is cost effective and meets international standards and compatibility.

UNI