Prism Cement awards Rs 1,200-crore contract to India Resources

Prism Cement has awarded Perthbased India Resources a Rs 1,200-crore contract to develop a captive coal mine,

India Resources (IRL) will develop and operate the first phase of Prism's Sial Ghogri coal deposit in Madhya Pradesh's Chhindwara district for 30 years. The mine, which is expected to produce some 9.06 million tonnes of coal, was awarded to Prism for its cement plant at Satna.

At Sial Ghogri, IRL will construct all necessary infrastructure linked to the mine's development within 24 months.

The coal ministry had also determined that the Sial Ghogri block requires specialised skill and technology and asked Prism to appoint a financially sound and experienced agency to develop and operate the coal block.