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Leighton Wins Huge Indian Coal Contract

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Leighton Holdings Ltd. has won a 20 year contract in India. Thiess, a subsidiary of Leighton Holdings, will develop a $5.5 billion coal mine contract in Pakri Barwadih, Jharkhand in east India.

The contract was awarded by the NTPC formerly known as National Thermal Power Corporation. It will involve mining 300 million metric tons of coal in one of the most resource rich states in India. Leighton hopes to secure a foothold in the booming coal sector in India via this mine.

After the announcement made on Thursday the shares in the company opened Friday at $32.60. The mine will be a joint venture with Minecs Finvest Private Ltd. They will own 10% while Thiess will own the remaining 90% of the joint venture company.

The mine is expected to have a life of 22 years with an annual production of 15 million tonnes. This will be the first of six mines that NTPC will develop to reduce the dependency of India on imported coal.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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