The contract entails operations and maintenance for a 19.54 km corridor with 17 stations, which extends from Sant Gadge Maharaj Chowk to Chembur, over a five-year period, according to a press release submitted to the exchanges.
As part of the agreement, Power Mech will provide comprehensive O&M services, including the management of rolling stock operations and the enhanced Communication-Based Train Control (CBTC) signalling systems.
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The company noted that this contract marks its entry into the urban mobility sector, diversifying its activities beyond its primary operations in power and infrastructure services.
Chairman and Managing Director Sajja Kishore Babu stated that the project solidifies the company’s role as a leading O&M player and cultivates synergies between its industrial operations expertise and the specialized demands of urban transit systems.
“This contract signifies PMPL’s entry into the urban mobility sector and reinforces our standing as a significant O&M entity in the nation’s swiftly growing infrastructure arena,” he commented.
The Mumbai Monorail, which has been operational since 2014, is India’s sole straddle monorail system and is expected to see heightened ridership due to improved connectivity with other transport networks.
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Power Mech stated it will allocate trained personnel to uphold high safety, reliability, and service quality standards, while assisting MMMOCL in enhancing the passenger experience.
The company, which holds a strong position in power plant O&M, has been branching out into infrastructure sectors such as railways, water projects, and renewables, aligning its growth strategy with the opportunities presented by India’s infrastructure expansion.
Shares of the company were trading /span>/span>2,202.10 as of 12.24 pm. The stock has experienced a decline of more than 15% over the last year.
