Latest news with #SiemensLimited
Business Upturn
a day ago
- Business
- Business Upturn
Siemens Energy India faces Rs 443.76 crore liability after Russian court ruling, to appeal decision
By Aditya Bhagchandani Published on July 22, 2025, 15:45 IST Siemens Energy India Limited has announced that it received an adverse ruling from the arbitration court of St. Petersburg, Russia, concerning a disputed supply contract with Neftegaz & Energetika LLC (formerly Siemens Energy LLC Russia). The court ruling was communicated to the company on July 21, 2025. According to the company's filing with stock exchanges under SEBI Listing Regulations, the dispute traces back to a contract awarded in June 2020, under which Siemens Energy India (then part of Siemens Limited) received an advance payment of ₹349.96 million from SE Russia. The contract was later terminated in October 2022 after the company invoked force majeure in September 2022. On March 12, 2025, the bankruptcy manager of SE Russia initiated litigation before the arbitration court of St. Petersburg, seeking ₹492.10 million from Siemens Energy India. In its ruling dated July 17, 2025, the Russian court declared the supply contract of July 16, 2021, and the advance payments made under it as invalid. The court ordered Siemens Energy India to pay ₹443.76 million (approximately USD 5.16 million) plus additional interest at 8% per annum from May 30, 2025, until the date of actual payment. The company, however, stated in its communication that it believes the ruling is 'unsustainable in law and contract' and intends to appeal the decision. This litigation stems from the demerger of the Energy Business from Siemens Limited to Siemens Energy India, sanctioned by the National Company Law Tribunal earlier this year, during which the disputed proceedings were transferred to Siemens Energy India. The company emphasized its commitment to defending its position vigorously and reassured stakeholders that it is taking all necessary legal steps. Disclaimer: The above information is based on the company's filing and is intended for informational purposes only. It should not be construed as legal or financial advice. Please consult appropriate professionals before making investment or business decisions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
11-07-2025
- Business
- Business Upturn
Siemens wins Rs 773 crore orders for Nagpur Metro Phase 2 signaling and telecom systems Mumbai
By News Desk Published on July 11, 2025, 17:37 IST Siemens Limited has secured two orders worth approximately ₹773 crore from Maharashtra Metro Rail Corporation Limited (MAHA-METRO) for the Nagpur Metro Rail Project Phase 2, including augmentation of Phase 1. The scope includes the design, supply, installation, testing, and commissioning of advanced signaling and telecommunication technologies. The orders cover deployment of Communication-Based Train Control (CBTC) signaling and modern metro telecommunication systems across 32 stations and a 43.8 km stretch. The project aims to enhance train frequency, safety, energy efficiency, and passenger experience. The execution timeline is approximately 42 months. Rajeev Joisar, Head of Mobility Business at Siemens Limited, said, 'We are grateful to MAHA-METRO for their continued trust in us. This project will contribute significantly to the sustainable urban development of Nagpur and demonstrates Siemens' ability to deliver integrated, future-ready mobility solutions.' The project further strengthens Siemens' position as a technology leader in urban mobility solutions in India, combining automation, digitalization, and sustainability. Ahmedabad Plane Crash News desk at
Time of India
19-06-2025
- Business
- Time of India
Siemens Energy India makes market debut; to invest ₹460 cr in Kalwa facility
New Delhi: Siemens Energy India Limited (SEIL), the energy arm of Siemens Limited, was listed on the BSE and the National Stock Exchange (NSE) on Thursday, completing the separation and listing of the company. Siemens AG and its subsidiaries hold 69 per cent stake in SEIL, while Siemens Energy AG subsidiaries own another 6 per cent. The remaining shares are in free float. SEIL currently employs more than 4,200 people and operates ten manufacturing facilities and eleven regional offices. The company also serves neighbouring countries including Nepal, Bhutan, Sri Lanka and the Maldives. SEIL has completed its 1,700th steam turbine at its Vadodara factory and contributed to India's first high-voltage direct current (HVDC) transmission link using voltage-sourced converter (VSC) technology. 'As India advances toward becoming a $7 trillion economy, a strong and resilient energy system will be essential. Siemens Energy India Limited with its dedicated team is ready to support this important journey for India and its people,' said Guilherme Mendonca, Managing Director and Chief Executive Officer, Siemens Energy India Limited. As part of the Make in India initiative , SEIL announced an investment of ₹460 crore in its Kalwa Transformers facility. The company has also established a Competency Hub to support innovation in energy technologies. SEIL reported that more than 55 per cent of campus hires in FY25 were women. The company launched its first all-women manufacturing line at its Aurangabad facility and inducted its first women team at the Kalwa Transformer unit. SEIL said it is focused on promoting diversity and inclusion across its workforce, and has initiated targeted development programmes to strengthen gender representation in leadership roles.
Business Upturn
18-06-2025
- Business
- Business Upturn
Siemens Energy India gets NSE & BSE approval for listing & trading its equity shares effective June 19
By Aditya Bhagchandani Published on June 18, 2025, 20:54 IST Siemens Limited has officially announced that its subsidiary, Siemens Energy India Limited (SEIL), will be listed on the stock exchanges on Thursday, June 19, 2025. The equity shares will be admitted to trading on both BSE and NSE, following approvals from the exchanges. In a filing, Siemens stated: 'SEIL has informed Siemens Limited today that SEIL has received approval from BSE Limited and the National Stock Exchange of India Limited for listing and trading of its equity shares effective 19th June, 2025.' The listing follows the Scheme of Arrangement initiated last year to demerge the energy business from Siemens Limited, a move intended to unlock shareholder value and enhance business focus. Key listing details: Listing Date: Thursday, June 19, 2025 Special Pre-open Session: 9:15 AM – 9:45 AM Regular Trading Begins: 10:00 AM Segment: 'T' Group (Trade-for-Trade) for the first 10 sessions ISIN: INE1NPP01017 Number of Shares: 35.6 crore Price Discovery: While a dummy price of ₹2,478/share was discovered on April 7, 2025, this was for indicative purposes. Fresh price discovery will occur on listing day during the pre-open session, which will determine the actual opening price for SEIL shares. This marks a significant step for Siemens' energy business in India, offering shareholders a direct avenue to invest in one of the country's key energy solutions providers. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
India.com
18-06-2025
- Business
- India.com
Good news India's first bullet train project... Siemens consortium bags contract for..., its worth...
Good news India's first bullet train project... Siemens consortium bags contract for..., its worth... Ahmedabad-Mumbai bullet train: In a major development in the India's first bullet train project between Ahmedabad and Mumbai a Siemens consortium has now been awarded the contract for signalling and telecom systems on the high-speed rail corridor by National High Speed Rail Corporation Limited. The Mumbai-Ahmedabad High-Speed Rail Corridor, India's first bullet train project, is currently under construction, aiming to significantly reduce travel time between the two major cities. The project is expected to be completed by 2028. The contract is for implementing advanced signalling and telecommunication systems for the Mumbai-Ahmedabad bullet train initiative. Siemens will deploy European Train Control System (ETCS) Level 2-based signalling and train control systems under the contract. These systems support train speeds up to 350 km/h, provide real-time monitoring, ensure continuous wireless connectivity and offer centralised traffic control capabilities. The ETCS Level 2 signalling standard has been successfully implemented across more than 50 nations worldwide. The National High Speed Rail Corporation Limited (NHSRCL) serves as the organisation responsible for executing India's first high-speed bullet train project. 'The order valued at approximately Rs. 4,100 crores, includes Siemens Limited's share of Rs 1,230 crore for the design, installation, and long-term maintenance of advanced signaling and telecommunications technologies,' according to an official statement released by Siemens Limited. The statement further said, 'The project is expected to be executed over a period of 54 months, with Siemens providing 15 years of maintenance services, ensuring lifecycle reliability.''As a consortium, we are proud to partner with National High Speed Rail Corporation Limited, in the prestigious high-speed rail project. This project reflects our commitment to 'Make in India' and delivering technologies that promote sustainable and future-ready mobility,' Sunil Mathur, managing director and chief executive officer, Siemens Limited, said.
