CIL inks pact with Russian shovel company

Coal India (CIL) has entered into a contract with IzKartex, a Russian shovel manufacturing company, for installation and commissioning of 11 electric rope shovels valued at Rs 1,462 crore. The Russian shovel manufacturer had bagged the bid through participation in a global tender, involving reverse auction. Each rope shovel is 20 cubic metres in size. The contract has been made for eight years, considering the lifecycle cost of equipment with likely consumables and spares, a CIL executive has said. The company is fast-tracking its procurement process to strengthen its mining equipment base and replace the ageing machines.