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Sadbhav Engineering bags Rs 263-crore project from Coal India unit

Sadbhav Engineering said on Monday that it has emerged as the lowest bidder for a project of Bharat Coking Coal Ltd, a subsidiary of Coal India, with the contract valued at Rs. 263.64 crore.

Sadbhav said in a filing to the BSE that it "has been declared the successful bidder (L1) in respect of the bid invited by Bharat Coking Coal Ltd, Dhanbad for the following project/work for contract value of Rs. 263.64 crore".

It said the scope of work includes "hiring of heavy earth moving machinery (HEMM) for removal of over burden and extraction and transportation of coal with firefighting from VIIC, VIIIA, VIII and VII seams of AKWM colliery of Katras Area and Tetulmari colliery of Sijua Area named as'Mega Project' of Katras Area".

Total quantity for the removal of over burden (OB) is 235.02 LCM and extraction of coal is 39.90 LMT.

Sadbhav Engineering is engaged in infrastructure projects including construction of roads and highways, bridges, irrigation supporting infrastructure and mining.

During the quarter ended June, it had reported a net profit of Rs. 16.13 crore and revenue of Rs. 563.23 crore.

Shares in Sadbhav Engineering, on Monday, ended at Rs. 67.05 apiece on the BSE, up 4.44 per cent from the previous close.

Source: NDTV