THIMPHU, 24 March, 2021 (TON): Despite the company extending the deadline by 45 days that expired on Monday, Pemi Dejung Kuenphan private limited (PDKPL) in Samdrupjongkhar missed the deadline to supply earthmoving equipment (EMEs) to the State Mining Corporation limited (SMCL).

As per the schedule, PDKPL was supposed to take over the coal extraction works at Tshophangma mines in Samdrupcholing from 1 April, if the required EMEs were supplied within the deadline.

PDKPL’s chairman, Arjun Chamlagai, said that they immediately ordered the EMEs from TCD pvt ltd and paid Nu 20 million (M) advance and applied for a Nu 126.53M loan to Royal Insurance Corporation of Bhutan limited (RICBL) for the remaining payment.

As per the reports, the company has also collected more than Nu 30.67M from over 4,000 shareholders in the community so far.

“The EMEs were supposed to reach on March 18 and 19, but TCD couldn’t deliver as it didn’t get a letter of credit (LC) from the bank,” he said.

Since the EMEs have reached Kolkata in India, the chairman said. “PDKPL is ready to start the mining works as soon as we receive the EMEs from the supplier.”

Arjun Chamlagai said that TCD on 21 March had written to the SMCL for a time extension saying, “We’ve mortgaged our property worth Nu 60M as a small help for the betterment of thousands of people in Samdrupcholing. We might also need a few more days from the date of LC to bring in those EMEs.”

However, a shareholder, Sonam Wangdi, highlighted that they could not ask for additional time extension as they were worried about losing the mining works.