MONTREAL – Velan Inc.’s German subsidiary has received a US$20-million order to supply valves for three Russian-made units that will be installed at a coal-fired power plant being built in India, the company announced Thursday.
Montreal-based Velan (TSX:VLN) didn’t disclose the name of the Russian company but said the Barh supercritical power plant is being built by India’s state-owned NTPC Ltd.
Supercritical plants use a high-pressure, high-temperature method that turns water instantly into steam, without boiling.
Velan will manufacture the high-pressure valves in the order and six other companies in Europe will supply other types of valves.
“This important order is the culmination of several years of work with our Russian customer, the engineering company, and NTPC in India. We are proud to be a part of India’s development of supercritical power plants,” said Stefan Wingerath, president of Velan GmbH.
Velan Inc. employs more than 1,800 people and has manufacturing plants in 10 countries.
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