SRM Contractors Limited has announced the successful acquisition of a substantial new project valued at Rs 45.25 crore, awarded by the Odisha Mining Corporation Ltd (OMC). This project involves the construction of a Gabion Wall (Mechanically Stabilized Earth Wall with Gabion Facia) at the South Kaliapani Chromite Mine. The primary goal of this structure is to enhance the holding capacity of the overburden dump, a critical aspect of ensuring operational efficiency and environmental safety at the mining site.

This agreement marks another milestone for SRM Contractors Ltd, highlighting its expertise in executing large-scale, technically demanding construction projects. The project has been detailed as a BOQ (Bill of Quantities) Project, meaning that SRM will adhere to a specific list of construction materials, quantities, and procedures as agreed with OMC. This adherence to detailed BOQ specifications reflects SRM's commitment to quality and compliance with industry standards.

Key Project Details:

1. Project Scope and Description: The contract centers on constructing a mechanically stabilized earth wall with Gabion facia, a structure critical to expanding the holding capacity of overburden dumps. Overburden dumps hold excess soil and waste material, and proper stabilization is essential for both safety and environmental protection.
2. Timeline and Cost: The Rs 45.25 crore project has a designated completion timeline of 12 months, underscoring SRM’s capacity to undertake large-scale infrastructure work with a robust project management approach.
3. Adherence to Insider Trading Compliance: SRM has declared a trading window closure under SEBI’s Prohibition of Insider Trading Regulations, 2015. As per the company’s Code of Conduct, this restriction applies to designated employees, immediate relatives, and other specified individuals connected to the company. The trading window will reopen 48 hours after the financial results for the quarter ending September 30, 2024, are publicly disclosed.

This project with the Odisha Mining Corporation aligns with SRM Contractors Ltd’s strategic vision of participating in high-impact infrastructure projects that contribute to India’s mining sector’s growth and sustainability. The Gabion Wall construction not only improves operational efficiency at South Kaliapani Chromite Mine but also reflects the company’s role in enhancing mining site safety.

In fulfilling this contract, SRM Contractors Ltd reinforces its reputation as a trusted partner for infrastructure development in India. The project will involve state-of-the-art construction methods, using mechanically stabilized earth technology and gabion structures, to ensure long-lasting, safe containment solutions.

This latest project reaffirms SRM Contractors Ltd’s capabilities and positions the company favorably within the competitive infrastructure and construction industry. As a public company, SRM remains committed to transparent operations, reflecting its dedication to compliance with regulatory requirements and its proactive approach in communicating major developments to investors and stakeholders.

By securing such pivotal contracts, SRM Contractors Ltd plays an essential role in the national mining infrastructure, fostering improvements and establishing strong business relations with state-owned enterprises such as the Odisha Mining Corporation.