Sieyuan Electric Co., Ltd.

Sieyuan Electric will invest $6.7 million to build a power equipment plant for gas insulated switchgears in Sri City, Andhra Pradesh, India. The 18-month construction project will produce 420 kV and below GIS products, targeting full-capacity operation by 2022.

Sieyuan Electric won a bid from State Grid Corporation of China to supply 500kV mechanical high-voltage DC circuit breakers for the Zhangbei flexible DC grid demonstration project. The contract value is approximately 1.368 billion yuan (about $21.7 million).

Sieyuan Electric Co., Ltd. signed an agreement to acquire a 90% stake in Changzhou Toshiba Transformer Co., Ltd. from Toshiba Corporation and affiliates for CNY 400 million on March 23, 2018.