Economy

Power Mech-AMR bags ₹9,294-crore coal mining deal

Our Bureau Hyderabad | Updated on June 28, 2021

Power Mech Projects Ltd has been awarded a ₹9,294 crore Mine Development & Operation project from Central Coalfields Limited (CCL), a subsidiary of Coal India Ltd.

Sajja Kishore Babu, Chairman and Managing Director in a regulatory listing has said, “The project has been awarded to a consortium of Power Mech Projects Limited and AMR India Ltd (74:26 per cent stake). A Special Purpose Vehicle — KBP Mining Private Ltd has been formed to undertake the project.”

The 25-year concession covers mining operations at Kotre Basantpur Pachmo OCP located in Ramgarh and Bokaro Districts, Jharkhand.

The total coal extraction capacity is approximately 105 million tonnes with an annual capacity of 5 mt. The deal provides for an option of extending the contract for 10 more years with the consent of both the parties.

Published on June 28, 2021

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