South West Pinnacle Exploration Limited wins Contract from Odisha Mining Corp. Diamond Core Drilling Contract worth Rs. 13.57 cr.
by Shrutee K
Mumbai, 01st March 2023: South West Pinnacle Exploration Limited (SWPEL), an Integrated Service Provider providing end-to-end Drilling & exploration of Natural resources announced that it has won a new contract from Odisha Mining Corporation (OMC), a Gold category state PSU.
The Company bagged a contract from OMC for diamond core drilling work at chromite ore leases in the state of Odisha. The contract, worth Rs. 13.57 cr, is expected to be completed by FY 2024 - 25.
This new contract further expands SWPE’s geographical reach across India, and expands the portfolio of minerals exploration.
Commenting on this development, Mr. Vikas Jain, Chairman & Managing Director said,
“I am glad to announce that we have recently won a new contract from Odisha Mining Corporation (OMC). We shall be conducting diamond core drilling work at chromite ore leases in the state of Odisha.
The contract is worth Rs. 13.57 cr and we expect to complete it by FY2024 -25. This further expands our geographical footprint across the country and our association with various State corporations in this industry.
Our diversified exploration and drilling capabilities allows us to provide such services for a wide range of minerals and ores.
I would like to thank the entire team of SWPE for their dedication and hard work, as well as our stakeholders, whose support helps us push the Company forward.
About South West Pinnacle Exploration Limited:SWPE is an Integrated Service Provider, providing end-to-end drilling & exploration of natural resources (Coal, Ferrous, Non-Ferrous & Atomic Minerals and Convention & Un- conventional Oil & Gas).
Company has recently won a coal block in the state of Jharkhand, having a geological reserve of over 84 million tons. It has signed a Coal Mine Development and Production Agreement with the Ministry of Coal, Government of India for the same. Further, Company is carrying out exploration, drilling & mining services in Oman through a joint venture, namely, Alara Resources LLC.
The Company has successfully completed more than 125 projects during 16 years’ journey since inception for all leading Government & Private Organizations.
SWPEL has completed approximately 2.2 million meters of drilling, 5 Lakh meters of Geophysical Logging, 491 sq.km. of 3 D Seismic surveys, 350 LKM of 2 D seismic Survey for exploration of Coal, Mineral, Oil and Gas. SWPE presently has various running projects under different verticals across India, Bangladesh and Middle East.
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