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Power Mech Projects (PMPL) has been awarded a Mine Development & Operation (MDO) project, Tasra OCP located in Jharia Coal Fields, Dhanbad, Jharkhand, by Steel Authority of India for an estimated value of Rs 30,438 crores over the contract period.
The MDO contract will primarily comprise of mine infrastructure development, removal of overburden and extraction of coking coal, crushing, transportation, setting up coal washery of 3.5 MTPA capacity, supply of steel grade coking coal to SAlL, carrying out R&R activities and other activities incidental to mining as per the project document.
The project has total coal extraction reserves of 96.78 MT with an annual capacity of 4 MTPA and over burden removal during the project period is over 535.29 MBcM. The concession period of the mine is 28 years including two years of development period.
The project has been awarded to a consortium of PMPL and PC Patel Infra, wherein PMPL is the consortium leader with 74% equity stake and PC Patel Infra will hold 26% stake. A Special Purpose vehicle (SPV) will be formed to undertake the project.
PC Patel has been in the mining sector for over a couple of decades and has rich experience in handling different kinds of mining contracts.
Power Mech Projects s an engineering and construction company providing integrated service in erection, testing and commissioning (ETC) of boilers, turbines and generators and balance of plant (BOP), civil works and operation and maintenance (O&M).
On a consolidated basis, net profit of Power Mech Projects rose 57.98% to Rs 75.20 crore on 30.11% rise in net sales to Rs 1174.10 crore in Q4 March 2023 over Q4 March 2022.
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