Central Coalfields awards Rs 9,294 crore mining project to Power Mech

Coal ministry, along with Coal India Ltd and Neyveli Lignite Corp, is offering 60 projects worth Rs 41,042 crore for private investment.

Power Mech Projects Limited, a Hyderabad based industrial services and construction company said on Monday, it has received a contract of Rs 9,294 crore for Mine Development & Operation (MDO) project from Central Coalfields Limited (CCL).

As part of the Centre's asset monetisation drive, the ministry of coal along with national miner Coal India Ltd (CIL) and Neyveli Lignite Corporation (NLCIL) will offer 60 projects worth Rs 41,042 crore for private investment. This includes 17 MDO projects to be offered to private companies, this paper reported recently.

MDO is contractual mining under which the contractor earns revenue from production of