CG enters into a JV with ZIV Aplicaciones y Tecnologia, S.L (ZIV) Spain.
CG has entered into a Joint Venture with ZIV Aplicaciones y Tecnologia, S.L (ZIV)., headquartered in Spain, for establishing a Joint Venture Company in India, for the manufacture of Substation Automation Systems for Substations in EHV and UHV range, including protective relays, differential relays, bay control units, bus-bar systems, substation units, etc.
ZLV is a key player in serving the needs of the electrical industry in Protection, Control, Measurement and Communications through state-of-art innovative, cost effective and customer oriented solutions in over 50 countries.
This joint venture is yet one major step by CG in establishing itself as a full Solutions Provider.
It is estimated that the total equity capital of the JV will be Rs 100 million, out of which the Company will contribute Rs 70 million, for a 70% shareholding.