Power Mech Secures ₹294 Crore Order from Adani Power for Korba Thermal Project

Power Mech Projects Limited has been awarded a ₹294 crore contract (excluding GST and incentives) by Adani Power Limited for overhauling, testing, and commissioning services at the 2×660 MW Korba Phase-II Thermal Power Project. The share price of Power Mech jumped over 3.5% as of 12:27 PM on January 1, 2025.

Project Scope and Objectives

The contract involves providing overhauling services, condition assessments, and manpower assistance for performance guarantee tests of steam generators (SG) and steam turbine generators (STG) along with their auxiliaries. The focus is to enhance operational efficiency and reliability for Units 3 and 4.

Execution Timeline

• Unit 3: Completion within 12 months from the Notice to Proceed.
• Unit 4: Completion within 18 months from the Notice to Proceed.

Financial Details and Incentives

The project’s total value stands at ₹294 crore, with an additional incentive of ₹1.25 crore per unit for timely synchronisation.

Local Engagement and Expertise

This domestic contract underscores Power Mech’s established expertise in India’s power infrastructure, particularly in large-scale thermal projects.

Significance for Power Mech

The deal strengthens Power Mech’s position in the energy infrastructure sector and highlights its ability to execute complex engineering tasks within strict timelines.

No Related Party Transactions

The order has been awarded by Adani Power as an independent entity, ensuring no related party transactions or promoter interests are involved.

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