Shreeji Shipping Global Secures 20-Year Mine Developer and Operator Award from Kerwa Coal Limited
Shreeji Shipping Global Ltd has secured a Letter of Award (LOA) from Kerwa Coal Limited to act as Mine developer and Operator. The award spans a period of twenty years from the date the Agreement is executed and may be extended for an additional five years at the sole discretion of KCL, should the initial bidder fail to meet their obligations.The award was granted to Shreeji Shipping Global and its lead bid member, M/s Nuravi Imports and Exports Private Limited (Nuravi), who are operating in a consortium. In this joint bidding arrangement, Shreeji Shipping Global and Nuravi hold rights, obligations, and a profit-sharing ratio of 49% and 51%, respectively. The company reported receiving the communication regarding the award on March 27, 2026.
The contract execution is contingent upon fulfilling specific conditions precedent. These conditions include the submission of the required Security Deposit and/or Performance Bank Guarantee by May 15, 2026. Upon the fulfillment of these prerequisites, the contract will become effective and binding, allowing the company to proceed with the project execution according to the award's terms.
The company noted that the execution of this contract is expected to contribute to the company's revenue and enhance its overall financial performance.
Details of the Mine Developer & Operator Award
The details concerning the order awarded by Kerwa Coal Limited are summarized below:| Particulars | Details |
|---|---|
| Entity Awarding the Order | Kerwa Coal Limited |
| Nature of Contract | Mine developer & Operator award for drilling, blasting, evacuation, and selling of coal in Kerwa coal Mines. |
| Contract Duration | Twenty (20) years from the date of execution, extendable by five (5) years at KCL’s discretion. |
| Consortium Ratio | Shreeji Shipping Global: 49%; Nuravi Imports and Exports Private Limited: 51% |
| Timeline for Execution | Determined upon finalization and approval of the mining plan. |
The transaction is characterized as a domestic award, and the company confirmed that the deal does not involve related party transactions. The commercial value and revenue potential are set to be determined upon the finalization and approval of the mining plan by the relevant authorities.
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