Mumbai, Sept. 11 -- Power Mech Projects Limited said it has secured an operations and maintenance contract from Vedanta Power Limited for the Sakti Thermal Plant in Chhattisgarh. The contract covers end-to-end operations and maintenance for two units of 600 megawatt (MW) each at the coal based plant located at village Singhitarai in Sakti district. The company described the award as domestic and not a related party transaction. The company noted that the scope encompasses comprehensive operational responsibility across the plant and supporting infrastructure.
The broad consideration for the contract is Rs nine point seven billion (bn), comprising Rs eight point nine bn as the basic value and Rs zero point eight bn as a provision for additional services, excluding GST. The company indicated that the contract will be executed on an end to end basis under the stated scope. The time period for execution is within 60 months from issuance of the letter of intent or order confirmation. The value is stated exclusive of goods and services tax and other statutory levies.
The order was awarded by Vedanta Power Limited, Sakti Thermal Plant and is a domestic contract. The filing to stock exchanges noted that promoters, promoter group and group companies have no interest in the counterparty and that the award does not constitute a related party transaction. The firm asked exchanges to take the record on filing. The company made the disclosure to the exchanges in line with regulatory disclosure requirements.
The notice to exchanges was signed by the company secretary and compliance officer, who requested acknowledgement of receipt. The company framed the engagement as part of its ongoing power sector operations and will proceed with mobilisation and planning within the specified timeline. Preparatory work and resource mobilisation are expected to commence after formal order confirmation. Further operational details were not disclosed in the filing.
Published by HT Digital Content Services with permission from Construction World.