Power Mech Bags ₹492 Crore Contract for Saudi Project; Shares Fall 1.8%

Mumbai, November 06: Power Mech Projects Limited, through its subsidiary Power Mech Arabia Contracting Company, has secured an international contract from a joint venture comprising the Saudi Arabian branches of ElSewedy Electric Power Systems Projects and Sinohydro Corporation Limited. The contract relates to erection works for the Rabigh 2 Independent Power Plant (IPP) expansion project in Saudi Arabia.

The main contract is valued at USD 40.98 million, equivalent to approximately ₹386.87 crore, excluding taxes. An additional optional scope worth USD 11.14 million, or around ₹105.13 crore, takes the total potential contract value to USD 52.12 million, approximately ₹492 crore.

Power Mech Contract Covers Steam Generators and Piping Works

The main scope includes installation of three heat recovery steam generators, one steam turbine for Block 10, and balance-of-plant combined-cycle piping for Block 20 and common facilities of the Rabigh 2 IPP expansion project.

The optional scope involves installation of balance-of-plant combined-cycle piping for Block 10.

The contract is an international erection assignment with an execution period of 20 months, effective January 1, 2027. The company disclosed that neither its promoters nor promoter group entities have any interest in the awarding entities, and the contract does not fall under related-party transactions.

Stock Market Snapshot

The Power Mech Projects share price was trading at ₹2,231.40, down ₹40.80 or 1.80% on Friday, November 6, 2026, at 11:43:23 AM IST, compared with the previous close of ₹2,272.20. The stock opened at ₹2,269.

About Power Mech Projects

Power Mech Projects Limited provides integrated services across power generation, infrastructure and industrial sectors. Its operations include construction, erection, testing, commissioning and maintenance of power plants and industrial facilities.

Conclusion

The Saudi Arabia contract strengthens Power Mech Projects’ international order pipeline, with a potential total value of approximately ₹492 crore, including optional work. The 20-month assignment adds to the company’s execution opportunities in the Middle East power infrastructure market.

Source:

• https://www.nseindia.com/get-quote/equity/POWERMECH/Power-Mech-Projects-Limited
• https://nsearchives.nseindia.com/corporate/POWERMECH_06112026111459_DISCLOSURE_.pdf