
Patel Engineering announced that it has secured 2 Letters of Intent (LoIs). The aggregate value of these orders is worth ₹798.19 Crore. The project underlines coal excavation and transportation projects in Chhattisgarh, the company said in an exchange filing on Wednesday (November 26).
The company has received these orders from Saidax Engineers and Infrastructure Pvt Ltd for work to be executed at the Jhiria West Open Cast Project (OCP) in the Hasdeo area of Bilaspur, for South Eastern Coalfields Ltd (SECL). The project value is excluding taxes.
As per the company’s disclosure, the contract has an estimated timeline of 9-years. The scope of work includes overburden removal, rehandling, coal cutting using surface miners, loading and transportation of coal, and the hiring, supply, and maintenance of required plant, equipment, and manpower.
Patel Engineering stated in its exchange filings that neither the promoters nor the promoter groups have any interest in the awarding entity. These orders do not fall under any related party transactions.
These new work orders came in addition to a strong order pipeline of over ₹34,000 Crore already bid and under evaluation. Furthermore, the company expects additional opportunities worth ₹18,000 Crore expected to come up before the end of this financial year.
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