Ganesh Infraworld Subsidiary Emerges as L1 Bidder for Major CCL Mine Project
Tykoon Mines GK Limited, a subsidiary of Ganesh Infraworld Limited, has secured the Lowest Bidder (L1) status for execution of work relating to the SDOC Mine of Dhori Area belonging to Central Coalfields Limited (CCL). The mine is situated in the Bokaro District of Jharkhand.The bidding entity, which operates under the name Tykoon Mines GK Limited (previously known as Kandoi Transport Limited), emerged as L1 for this significant project.
According to the details provided, the bid value for the execution of work is approximately ₹453.16 crore. The proposed tenure for completing the specified work is estimated at five years, subject to the final terms and conditions of the contract award.
The company emphasized that while securing L1 status is a major development, it does not automatically constitute the final award of the contract or the work itself. The definitive award remains contingent upon the completion of the applicable procurement process by CCL. This includes negotiations, price confirmation/matching, issuance of the Letter of Acceptance (LOA) or Work Order, and fulfillment of all prescribed terms and conditions by the procuring authority.
Should the L1 status be successfully converted into a formal order or contract, Ganesh Infraworld expects to execute the project over approximately five years. Based on current understanding of the scope and commercial terms, the company anticipates that the project will maintain a margin profile consistent with its existing projects of similar nature, pending the final contractual details and actual execution specifics.
The company affirmed it will issue further disclosures regarding material developments, such as receiving the LOA or the formal award of the contract, in line with applicable regulatory provisions.
GANESHIN Stock Price Movement
Shares of Ganesh Infraworld Limited are edging higher to ₹117.30 as of 2:25 PM, gaining ₹5.55 in trading this session. The stock is currently seeing brisk activity on a volume of 86,400 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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