KNR Constructions JV Wins ₹48.01-Billion Coal Mine Project In Jharkhand

KNR Constructions Ltd. on Wednesday said its joint venture with Harsha Constructions Pvt. Ltd. has received a letter of acceptance for a coal mine development contract worth ₹48.01 billion from Patratu Vidyut Utpadan Nigam Ltd.

KNR Constructions holds a 74% stake in the JV, while Harsha Constructions owns the remaining 26%, the company said in an exchange filing. 

Under the contract, the joint venture will develop the Banhardih coal block in Jharkhand, which holds an estimated 34.50 million tonnes of coal reserves. The project includes a 360-day initial mine development period, followed by a five-year operational phase.
Patratu Vidyut Utpadan Nigam is a joint venture between Jharkhand Bijli Vitaran Nigam Ltd. and NTPC Ltd.