South West Pinnacle JV Strikes ₹300 Cr Deal, Boosting Exploration Momentum

South West Pinnacle Exploration Ltd (SWPEL) has secured a major breakthrough with its joint venture clinching a contract worth ₹300 crore, marking a significant leap in its exploration and drilling portfolio. The contract, awarded by a reputed public sector entity, underscores SWPEL’s growing dominance in India’s mineral and energy exploration landscape.

 

The deal involves comprehensive geological and geophysical services, including core drilling, seismic surveys, and aquifer mapping across multiple states. With this, SWPEL’s order book has surged to an all-time high of ₹495 crore, reflecting robust demand for its integrated exploration capabilities.

 

The company’s JV partner, Alara Resources LLC (Oman), brings international expertise to the table, enhancing the project’s execution potential. This collaboration is expected to generate steady revenue over the next 18–24 months and further strengthen SWPEL’s foothold in high-margin contracts.

 

Managing Director Vikas Jain hailed the development as a “strategic milestone” that aligns with the company’s vision to become a full-spectrum exploration and mining powerhouse. The contract also includes provisions for technology transfer and capacity building, positioning SWPEL as a key player in India’s resource security roadmap.

 

With 41 operational rigs, cutting-edge seismic equipment, and a seasoned team, SWPEL is poised to deliver on its commitments while eyeing further expansion in coal, CBM, and unconventional energy domains.

 

Sources: Business Standard, Moneycontrol, South West Pinnacle Investor Disclosures