Power Mech Projects jumps 20% after bagging SAIL mine contract
COAL & MINING

Power Mech Projects jumps 20% after bagging SAIL mine contract

The share price of Power Mech Projects had surged by 20%. The company revealed that they had secured a mine development contract valued at Rs 304.38 billion from Steel Authority of India (SAIL).

Power Mech Projects had been granted the mine development and operation (MOO) project situated in Jharia Coal Fields, Ohanbad in Jharkhand. The concession period for the mine, which includes two years for development, will span 28 years.

The awarded project encompasses substantial coal extraction reserves of 96.78 MT, with an annual capacity of 4 MTPA. Additionally, over 535.29 MBCM of overburden removal is expected during the project period.

A consortium comprising Power Mech Projects (PMPL) and PC Patel Infra has been entrusted with the project. PMPL leads the consortium and holds a 74% equity stake, while PC Patel Infra holds the remaining 26% stake. To undertake the project, a special purpose vehicle (SPV) will also be established.

Also read: 
Experion Capital Invests INR 2 Billion in Gurugram Luxury Project  
Tripura unveils ambitious plan: 500 MW Solar Power by 2030  


The share price of Power Mech Projects had surged by 20%. The company revealed that they had secured a mine development contract valued at Rs 304.38 billion from Steel Authority of India (SAIL). Power Mech Projects had been granted the mine development and operation (MOO) project situated in Jharia Coal Fields, Ohanbad in Jharkhand. The concession period for the mine, which includes two years for development, will span 28 years. The awarded project encompasses substantial coal extraction reserves of 96.78 MT, with an annual capacity of 4 MTPA. Additionally, over 535.29 MBCM of overburden removal is expected during the project period. A consortium comprising Power Mech Projects (PMPL) and PC Patel Infra has been entrusted with the project. PMPL leads the consortium and holds a 74% equity stake, while PC Patel Infra holds the remaining 26% stake. To undertake the project, a special purpose vehicle (SPV) will also be established. Also read:  Experion Capital Invests INR 2 Billion in Gurugram Luxury Project  Tripura unveils ambitious plan: 500 MW Solar Power by 2030  

Next Story
Infrastructure Energy

Samridh, CEID Launch High-Capacity Biogas Plant in Moradabad

Samridh Bioenergy has broken ground on a 12 TPD compressed biogas (CBG) plant in Moradabad, Uttar Pradesh, under the MNRE’s National Bioenergy Programme. Spread across 12 acres, the plant will process 270 tonne of organic waste daily and generate 30,000 cubic metre of biogas per day.CEID Consultants and Engineering Pvt Ltd has been appointed as the EPC contractor, responsible for the complete design, procurement, and construction of the plant. Equipped with four multi-feed digesters, the facility will accept a mix of press mud, cow dung, chicken litter, and vegetable waste, supporting contin..

Next Story
Real Estate

Delhi Micro-Markets Drive Up Housing Prices: Grihum Study

A new study by Grihum Housing Finance reveals that the rise of micro-markets across Delhi-NCR is fuelling real estate price appreciation, especially in the affordable housing segment. Key drivers include renewed post-pandemic interest, migration trends, and government schemes like PMAY.According to the study, over the past two decades, floor rates have risen 267 per cent, from Rs 1,500 per sq ft in 2005 to Rs 5,500 in 2024. In the same period, land rates surged 492 per cent, from Rs 1,300 to Rs 7,700 per sq ft. The sharp increase highlights strong capital appreciation in Delhi’s emerging loc..

Next Story
Resources

Covestro Develops PCR Polycarbonates from End-of-Life Headlamps

Materials manufacturer Covestro has launched post-consumer recycled (PCR) polycarbonates made from end-of-life automotive headlamps, in a move aimed at strengthening circularity in the auto industry. These TÜV Rheinland-certified grades, containing 50 per cent recycled content, are now commercially available for new automotive applications.Developed under a joint programme led by GIZ, with Volkswagen and NIO as key partners, the recycled material is currently being validated for use in future vehicle models.""This new line of polycarbonate represents a significant step in supporting the autom..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?