Power Mech grabs a contract from Central Coalfields Ltd
Mine Development & Operation project from Central Coalfields Limited (CCL), a subsidiary of Coal India Ltd has been awarded a ₹9,294 crore Power Mech Projects Ltd.
The Power Mech project has been awarded to a consortium of Power Mech and AMR India Ltd. It is the consortium leader with a 74 per cent equity stake and AMR India will hold a 26 per cent stake.
It said in a statement that, “They have been awarded a Mine Development & Operation (MDO) project from Central Coalfields Ltd (CCL), a subsidiary of Coal India Ltd, aggregating to Rs 9,294 crore over the contract period,”
The contract from central coalfields will comprise mine infrastructure development, removal of overburden and extraction of coking coal, processing, crushing and transportation of coal up to washery of CCL, carrying out R&R activities and any other activities incidental to mining as per the project document at Kotre Basantpur Pachmo OCP located in Ramgarh and Bokaro districts of Jharkhand.
A special purpose vehicle (SPV) has been formed to undertake the project. The project has a total coal extraction capacity of 105 million tonnes (MT) with an annual capacity of 5 MT and overburdens removal during the project period is over 539 MBCM.
The project will be handled by SPV and will have material handling expertise of Power Mech in project development and the technical expertise of AMR India in the field of greenfield mining project development.