Power Mech Secures Mumbai Monorail Operations Contract

Under the terms the scope comprises routine operations, system upkeep, signalling and traction oversight, station management and other allied services necessary for continuous serviceability. The contract is to be executed by Power Mech for a period of five years and is classified as a domestic engagement awarded by a public entity. It will implement staffing plans, maintenance regimes and safety protocols to ensure reliable passenger services.

The broad consideration for the order is Rs 2,964.4 mn, exclusive of goods and services tax, derived from the notified amount of Rs 296.44 Crores. The company indicated that neither promoters nor promoter group entities have any interest in the contracting authority and that the contract does not constitute a related party transaction. Financial and operational obligations will be governed by the contract terms and applicable regulatory provisions.

The transaction follows standard procurement and compliance procedures and reinforces Power Mech's presence in urban transit services. The company submitted the requisite disclosures to the National Stock Exchange and BSE under its listing obligations and asked investors and stakeholders to note the award. The filing was signed by the company secretary and compliance officer on behalf of the firm.