Power Mech Projects Ltd received a mine development and exploitation project in the amount of 9,294 crore from Central Coalfields Limited (CCL), a subsidiary of Coal India Ltd.
Sajja Kishore Babu, Chairman and CEO of the Regulatory List, said: “The project has been awarded to a consortium of Power Mech Projects Limited and AMR India Ltd (74:26 percent stake). Special Purpose Vehicle – KBP Mining Private Ltd was established to take over the project. “
The 25-year concession covers mining operations in Otre Kotre Basantpur Pachmo located in Ramgarh and Bokaro districts, Jharkhand.
The total coal mining capacity is approximately 105 million tons with an annual capacity of 5 mt. The agreement provides for the possibility of extending the contract for another 10 years with the consent of both parties.