Dilip Buildcon emerges as lowest bidder for mine development

Infrastructure player, Dilip Buildcon has been declared as L-1 bidder in the tender called by the PSPCL for selection of Mine Developers and Operators (MDO) for the Pachhwara Central Coal Mine in Rajmahal Coalfield, District Pakur, Jharkhand on August 6, 2018.

For this project, Dilip Buildcon will be mine developer cum operator of the central coal mine. The Consortium bid value is Rs. 32,156 crore and the mineable reserve of the block is 382.1 Million Metric Tons to be mined over a period of 55 years at a peak rated capacity of 7 MTPA (Million Tons per annum).

The Pachhwara Central Coal block is reserved for power sector end use and was allotted to PSPCL by Nominated Authority, Government of India for its captive utilization.

The consortium has been formed between Dilip Buildcon and VPR Mining Infrastructure Private Limited (VPR) with a shareholding of 74 per cent and 26 per cent, respectively.

Meanwhile, the stock of Dilip Buildcon on Tuesday’s trading session was trading at negative mark. At 13.10 hours, the stock was trading at Rs. 876.4 per share, down by almost 1.6 per cent from its previous close.