Power Mech Projects: New Orders Totaling ₹551 Crore! 🚀

Hey finance enthusiasts! 👋 We’ve got some exciting news from the power sector today. Power Mech Projects Limited (POWERMECH), a key player in India’s infrastructure space, has just announced bagging two significant new orders worth a combined over ₹551 crore! This is a fantastic boost for the company, whose shares were last traded at ₹3260.

Let’s break down these new wins:

First up, Power Mech has secured a substantial order from SJVN Thermal (P) Ltd. (STPL). This contract, valued at ₹498.39 crores (excluding taxes), is for the Commissioning Support & Comprehensive Operation and Maintenance (O&M) of the Coal Based Supercritical Buxar Thermal Power Project (BTPP). We’re talking about a massive 2 x 660 MW project located in Chausa, Bihar. This is a long-term commitment, spanning 39 months, showcasing Power Mech’s expertise in handling large-scale power plant operations from the ground up.

But wait, there’s more! The company also landed another crucial contract, this time from Jhabua Power Limited, a joint venture with NTPC Limited. This order, worth ₹52.96 crores (excluding taxes), focuses on the Operation and Maintenance of the Boiler, Turbine, and Generator for a 1 x 600 MW unit. This project is situated in Village Barela, Madhya Pradesh, and the contract period is for three years, with an option for a one-year extension.

Both of these contracts are domestic, reinforcing Power Mech’s strong presence and capabilities within India’s growing power infrastructure. These wins highlight the company’s continued trust from major power producers for critical O&M and commissioning services. It’s a clear sign of their robust operational strength and technical prowess in the sector. 💪

Keep an eye on Power Mech Projects as they continue to power up India’s energy landscape!

source: Corporate Announcement

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