Sical Logistics Ltd on Monday (January 12) announced that it has received a letter of acceptance from South Eastern Coalfields Ltd (SECL) for a major mining project valued at ₹4,038 crore, inclusive of GST.
The contract relates to the Porda Chimtapani open-cast coal project located in Raigarh district, Chhattisgarh. Awarded by a domestic public sector entity, the project will be executed over a period of 4,214 days in accordance with the technical and operational specifications outlined in the tender.
The company clarified that neither its promoter, promoter group, nor any group companies have any interest in SECL, and the contract does not qualify as a related-party transaction.
Founded in 1955, Sical Logistics Ltd is a leading integrated logistics service provider in India. The company was acquired in 2023 by Delhi-based Pristine Malwa Logistics Park Pvt Ltd. Its core operations include large-scale mining projects for Northern Coalfields Ltd in Madhya Pradesh and Mahanadi Coalfields Ltd in Odisha.
In addition to mining, Sical has a strong presence in dredging operations and owns a cutter suction dredger currently deployed along India’s east coast, including works at Ramayapatnam Port. The company completed a dredging assignment in 2022 for the construction of an ONGC pipeline at Yanam in Puducherry.
Sical has also diversified its business portfolio into container freight stations, warehousing, and third-party logistics (3PL) services.
Shares of Sical Logistics Ltd closed at ₹87.65 on the BSE on January 12, rising ₹0.82 or 0.94% from the previous close.