November 19, 2019 1:16:40 pm
Highway developer Dilip Buildcon on Tuesday said it has bagged an order worth Rs 2,122.74 crore from Northern Coalfields Ltd, a subsidiary of Coal India, for removal of overburden at a mining project in Madhya Pradesh.
In mining, overburden is the overlying material (such as rock, soil) that generally has no commercial value.
“Dilip Buildcon has been awarded OB (over burden) removal contract mining work for Nigahi project at Singrauli district in the State of Madhya Pradesh valued at Rs 2,122.74 crore by the Northern Coalfields Ltd (NCL), a subsidiary of Coal India Ltd (CIL),” the company said in a filing to BSE.
The company was declared L1 bidder (lowest bidder) in the reverse auction conducted by NCL, the filing added.
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The contract period of the project is 1,552 days.
Coal India accounts for over 80 per cent of domestic coal output.
Shares of Dilip Buildcon were trading at Rs 419.60, higher by 3.89 per cent on the BSE.
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