Gayatri Projects Limited receives contract from OMC

Gayatri Projects Limited (GPL) has received the Letter of Award (LOA) for for Putulpani Quarry of Gandhamardan Block 'B' Iron Ore Mine on September 23, 2020 from The Odisha Mining Corporation Limited (OMC), for "Mine Operator for production of 10.00 Lakhs MT/per year of Iron Ore."

The scope of the work is Mine Operator - Hiring of Plant and Mining Machineries for Excavation/raising of ROM by drilling and blasting, transportation of ROM to crushing and/or screening plant to be installed by the Agency, crushing & / or screening of ROM to obtain finished product of 10-40 mm CLO & -10 mm Iron Ore Fines, transport of finished product to specified yards after necessary weighment, cleaning of quarry faces, disposal of sub grade and Over Burden (OB) including associated rejects / spoils / spurious materials to the specified yards, etc.

The period of work shall be 01 (year) (contract period) for a total Quantity of 10.00 lakh MT/year. The contract period may be extended by another 01(one) year at the sole discretion of OMC with the approval of BOD of OMC. The contract may be further extendable on yearly basis under mutual consent of both the parties with the approval of BOD of OMC.

The contract value is INR 33.23 crores (Excluding GST) for one year.

Shares of GAYATRI PROJECTS LTD. was last trading in BSE at Rs.17.25 as compared to the previous close of Rs. 17.1. The total number of shares traded during the day was 52031 in over 227 trades.

The stock hit an intraday high of Rs. 17.9 and intraday low of 16.25. The net turnover during the day was Rs. 888223.

Source : Equity Bulls

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