Sical Logistics Ltd on Monday said it has received a letter of acceptance from South Eastern Coalfields Ltd (SECL) for a mining contract valued at Rs 40.38 billion, including GST. The project relates to the Porda Chimtapani open-cast mine in Raigarh district of Chhattisgarh.

The contract, awarded by a domestic entity, will be executed over a period of 4,214 days. Sical Logistics said it will undertake the project in accordance with the specifications set out in the tender documents. The company added that its promoter, promoter group and group companies have no interest in SECL, and the contract does not qualify as a related party transaction.

Founded in 1955, Sical Logistics is a leading integrated logistics service provider in India. The company was acquired by Delhi-based Pristine Malwa Logistics Park Pvt Ltd in 2023. Its major operations include mining projects for Northern Coalfields Ltd in Madhya Pradesh and Mahanadi Coalfields Ltd in Odisha.

Sical also owns and operates a cutter suction dredger currently deployed along India’s east coast, where it is engaged in dredging works at Ramayapatnam Port. In 2022, the company completed a dredging project for an ONGC pipeline in Yanam, Puducherry.

In addition to mining and dredging, Sical has diversified into container freight stations, warehousing and third-party logistics services.

Shares of Sical Logistics ended at Rs 87.65 on the BSE on January 12, up Rs 0.82, or 0.94 per cent, from the previous close.