SAIL awards `30,483 crore mine development project to Power Mech
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New Delhi Power Mech Projects has been awarded a mine development and operation (MDO) project of Rs30,438 crore by state-owned steel maker SAIL. “This project is being awarded to a consortium of Power Mech Projects Ltd (PMPL) - PC Patel Infra Pvt Ltd for development and operation of Tasra opencast project, located at Jharia Coal fields in Dhanbad district of Jharkhand,” a regulatory filing said on Monday.
“This project will further strengthen our robust order book and enable the company to diversify its order book which is in line with its strategy to have an optimum mix between power and non-power segments,” said Sajja Kishore Babu, Chairman and Managing Director of Power Mech Projects.
PMPL is the consortium leader with 74 per cent equity stake and while PC Patel Infra has 26 per cent stake. The duration of the contract is 28 years which includes two years of development period.
