Power Mech Projects has secured a ₹970 crore operations and maintenance (O&M) contract from Vedanta Power for its 1,200 MW Sakti Thermal Power Plant in Chhattisgarh.
The contract covers the end-to-end O&M of the plant’s two 600 MW coal-fired units and will be executed over a period of 60 months, starting from the date of the Letter of Intent or order confirmation.
The order relates to Vedanta Power’s Sakti Thermal Plant, located in Singhitarai village in Sakti district, Chhattisgarh. The facility comprises two units of 600 MW each, giving it a combined installed capacity of 1,200 MW.
Under the agreement, Power Mech Projects will be responsible for carrying out operations and maintenance activities for the power plant during the five-year contract period.
The total order value stands at ₹970 crore, excluding GST. The basic contract value is ₹890 crore, while ₹80 crore has been allocated for additional services.
The project is classified as a domestic O&M contract and carries an execution timeline of 60 months.
The order has been awarded by Vedanta Power Limited’s Sakti Thermal Plant. Power Mech Projects stated that neither its promoter nor its promoter group has any interest in the entity awarding the contract.
The company has also confirmed that the transaction does not qualify as a related-party transaction.
Power Mech Projects shares were trading at ₹2,444.10 apiece, up 1.20% from the previous trading session.
The ₹970 crore order strengthens Power Mech Projects’ order book in the power sector and adds a five-year O&M contract covering Vedanta Power’s 1,200 MW Sakti thermal power facility.
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