Shreeji Shipping Global Limited Secures LOA from Kerwa Coal Ltd.

Shreeji Shipping Global Limited has received a Letter of Award (LOA) from Kerwa Coal Ltd as Mine Developer & Operator, in a joint consortium with lead bid member Nuravi Imports and Exports Private Limited. The award is for a period of 20 years from the date of agreement execution, with the possibility of a five-year extension at KCL’s discretion, following the non-fulfilment of obligations by the first (H1) bidder.

Under the consortium arrangement, Shreeji Shipping holds a 49% stake, while Nuravi holds 51%, with rights, obligations, and profit-sharing aligned accordingly. The award was granted to the consortium as the next eligible (H2) bidder in the selection process.

The contract is subject to certain conditions precedent, including submission of the Security Deposit and/or Performance Bank Guarantee by May 15, 2026. Once these conditions are met, the agreement will become effective, allowing the company to proceed with project execution as per the award terms. The company received formal communication of the award on March 27, 2026, with the disclosure delay attributed to procedural issues in receiving the physical communication.

The execution of this contract is expected to contribute significantly to the company’s revenue and strengthen its overall financial performance.