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Sical Logistics has secured a ₹4,038 crore contract from South Eastern Coalfields for the Porda Chimtapani open cast project in Raigarh, Chhattisgarh, to be executed over 4,214 days; the contract is a standard domestic deal with no related party involvement.
Sical Logistics Ltd on Monday (January 12) said it has received a letter of acceptance from South Eastern Coalfields Ltd (SECL) for a project valued at ₹4,038 crore, including GST. The contract pertains to the Porda Chimtapani open cast project in Raigarh, Chhattisgarh.
The contract, awarded by a domestic entity, is to be executed over a period of 4,214 days. Sical Logistics will carry out the project in line with the specifications outlined in the tender. The promoter, promoter group, and group companies of Sical Logistics do not have any interest in SECL. The contract is not classified as a related party transaction.
Sical Logistics Ltd, established in 1955, is a leading integrated logistics service provider in India. The company was acquired by Delhi-based Pristine Malwa Logistics Park Pvt Ltd in 2023.
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Its major operations include mining projects for Northern Coalfields Ltd in Madhya Pradesh and Mahanadi Coalfields Ltd in Odisha. Sical also owns and operates a cutter suction dredger currently deployed on the east coast of India, conducting dredging operations at Ramayapatnam Port.
In 2022, the company successfully completed a dredging project for the construction of an ONGC pipeline in Yanam, Puducherry. Beyond mining and dredging, Sical has expanded into other business segments, including container freight stations, warehousing, and third-party logistics (3PL) services.
Shares of Sical Logistics Ltd ended at ₹87.65, up by ₹0.82, or 0.94%, on the BSE today, January 12.
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(Edited by : Shoma Bhattacharjee)
