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Sical Logistics hit 5% upper circuit after the company won a ₹4,038 crore mining contract from South Eastern Coalfields Ltd (SECL).
The deets: the order is for the Porda Chimtapani open cast mine in Raigarh, Chhattisgarh. The project will run for 4,214 days, making it a long-duration revenue play for the company.
This includes removing soil and rock to access coal, extracting the coal, operating heavy mining machinery, and managing day-to-day activities at the mine.
Simply put, SECL owns the mine, while Sical has been hired to run it and ensure coal is produced as planned over the life of the project.
Why it matters: coal is still the backbone of India’s power system. Even as renewables grow, a large part of the country’s electricity continues to come from coal, and that means reliable supply is critical to avoid power shortages.
For the industry, long-term mining contracts like this ensure stable fuel availability for power plants, especially in industrial and high-demand states. For companies like Sical, it shows that experienced private players are still essential partners for PSU coal companies to meet production targets.
