Shreeji Shipping Global Limited Secures 20-Year Mine Developer Contract from Kerwa Coal Limited
Shreeji Shipping Global Limited received a 20-year Mine Developer & Operator contract from Kerwa Coal Limited, with a potential 5-year extension. The company shares a 49% profit ratio in a consortium with Nuravi Imports and Exports Private Limited. Conditions precedent, including security deposit submission, are due by May 15, 2026.
The contract is for a significant duration (20 years with extension) and is expected to substantially contribute to the company's revenue and financial performance.
The company has secured a long-term contract which is expected to boost revenue and financial performance.
Shreeji Shipping Global Limited has received a Letter of Award (LOA) from Kerwa Coal Limited (KCL) to act as a Mine Developer & Operator (MDO). This significant contract is for a period of twenty (20) years from the date of execution, with a potential extension of another five (5) years at KCL's discretion.
The award was granted to Shreeji Shipping Global Limited and its lead bid member, M/s Nuravi Imports and Exports Private Limited, as the next eligible bidders (H2 bidders) after the first bidder (H1) failed to fulfill their obligations. The consortium will operate with a profit-sharing ratio of 49% for Shreeji Shipping Global Limited and 51% for Nuravi Imports and Exports Private Limited.
The contract is contingent upon the fulfillment of certain conditions precedent, including the submission of the requisite Security Deposit and/or Performance Bank Guarantee by May 15, 2026. Upon meeting these conditions, the contract will become effective, and the company will commence project execution. The company communicated that the receipt of award notification was on March 27, 2026, and the delay in disclosure was due to the late arrival of the physical courier, classifying it as a purely procedural and unintentional delay.
This new contract is expected to contribute positively to the company's revenue and enhance its overall financial performance. The scope of the contract includes drilling, blasting, evacuation, and selling of coal in Kerwa coal Mines.
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