IVRCL Ltd, the Hyderabad-based construction services provider, has announced that the company's mining and water divisions have bagged orders worth Rs 1,867.19 crore.
IVRCL has made a major foray into the mining sector, particularly underground mining of non-ferrous metals. The mining operations of IVRCL have been spun off into a separate division headed by the Chief Operating Officer, Mr M.S. Rao.
In a statement to the stock exchanges, the company has informed that the mining division has bagged order worth Rs 1178.12 crore from Hindustan Copper Ltd, for development of an underground mine of 5 million tonnes a year capacity at Malanjkhand copper project in Balaghat in Madhya Pradesh. This is to be completed in five years.
The Malanjkhand copper deposit is the single largest copper deposit in India, having an estimated reserve of 268 million tonnes and contributes to around 70 per cent of HCL's copper production.
The winders for the mine would be supplied by Davy Markham, a wholly-owned subsidiary of Hindustan Dorr-Oliver Ltd, a listed subsidiary of IVRCL Ltd. Davy Markham is based in Sheffield (UK).
The water division has secured an order worth Rs 691.07 crore from Gujarat Water Infrastructure Ltd. The project mandate is to lay pipelines and handle civil and electro mechanical work with 5 years of operations and maintenance