Thiess wins $5.5b Indian mine contract

Leighton Holdings Ltd subsidiary Thiess has won a $5.5 billion coal mine development
contract in India.
India's largest electricity generator NTPC Ltd, formerly known as National Thermal
Power Corporation, awarded joint venture Thiess Minecs the right to develop and
operate the Pakri Barwadih coal mine.
The mine will be located in the state of Jharkhand in the eastern part of India.
Thiess owns 90 per cent of the joint venture company, while 10 per cent is held by
Minecs Finvest Private Ltd.
The contract involves the construction of site infrastructure and coal processing
plants in the first two years, then coal mining and operation of processing and rail
loading facilities for the life of mine.
Production is planned to increase to 15 million tonnes per annum over the first
three years of mining, with over 300 million tonnes of coal expected to be mined
over the life of the contract, which is expected to be 22 years.
Pakri Barwadih will be the first of six mines that NTPC, a government enterprise,
intends to develop as it replaces expensive imported coal.
Thiess said it would recruit locally for the project.
Leighton shares were up 85 cents, or 2.72 per cent, to $32.11 at 1139 AEDT.