Dilip Buildcon consortium executes pact for development of a Rs 32,156 crore coal project

NEW DELHI: Infrastructure firm Dilip Buildcon said Wednesday its consortium has executed a pact for development of a Rs 32,156 crore coal mine project of Punjab State Power Corporation.
The company has executed coal mining agreement for execution of mine developer cum operator (MDO) contract of Pachhwara central coal block located in Jharkhand's Pakur district, Dilip Buildcon (DBL) said in a BSE filing.

"DBL in consortium with VPR Mining Infrastructure Pvt Ltd has been awarded the contract of mine developer cum operator (MDO) for the development and operation of Pachhwara central coal Block located at Raimahal coalfield, District pakur, Jharkhand by PSPCL," the filing said.

"The project is valued at Rs 32,156.04 crore," the company said.

The mine has reserves of 383 MT with a life of 55 years.

DBL has a shareholding of 74 per cent and VPR 26 per cent in the SPV set up for the execution of the project, it added.

Shares of DBL declined by 3.46 per cent to end at Rs 749.60 on BSE.