Power Mech Lands Rs 294 Crore Adani Power Contract

Power Mech Projects has received a Rs 294 crore contract from Adani Power for services at the 1,320 MW Korba Phase-II Thermal Power Project in Chhattisgarh. The contract involves overhauling and commissioning services, with company shares rising 4.19% to Rs 2,675.45 on the BSE.

Power Mech Projects, on Wednesday, announced the acquisition of a significant order valued at Rs 294 crore from Adani Power. This development is aimed at enhancing the performance of the 1,320 MW Korba Phase-II Thermal Power Project in Chhattisgarh.

The company's responsibilities under this contract include a comprehensive range of services, such as overhauling, erection, testing, and commissioning of components for Unit 3 and 4 of the project. Additionally, Power Mech will provide manpower assistance for the performance guarantee test of the steam generator, among other tasks.

This news positively impacted the market, as shares of Power Mech Projects saw a rise of 4.19%, trading at Rs 2,675.45 per piece on the Bombay Stock Exchange (BSE).

(With inputs from agencies.)