Asian Energy Services wins coal handling plant project from Central Coalfields Ltd

Asian Energy Services Ltd (AESL), a frontrunner in the energy infrastructure domain, has recently announced the acquisition of a significant Letter of Award (LoA) in collaboration with its Joint Venture (JV) partner from Central Coalfields Ltd, a subsidiary of Coal India Ltd. This notable project, valued at INR 250 crore inclusive of taxes, involves a comprehensive scope of work including the Planning, Design, Engineering, Construction, Fabrication, Erection, Supply, Installation, Testing, Trial run, and Commissioning of a Coal Handling Plant with SILO loading at KARO OCP. This encompasses all Civil, Structural, Electrical, and Mechanical Works, alongside the Operation & Maintenance of the plant for a period of five years.

This LoA signifies a major milestone for AESL, not merely broadening its services portfolio but also bolstering its standing in India’s swiftly growing energy infrastructure sector. The project’s execution is anticipated to considerably augment the company’s financial performance in the fiscal years FY25 and FY26, offering long-term revenue visibility.

Kapil Garg, Managing Director of Asian Energy Services Ltd, shared his enthusiasm about the new project, stating, “We are elated to receive LoA from CCL for this project. It is a testament to our credibility and reputation within the energy industry and strengthens our commitment to delivering high-quality projects and services. We look forward to executing the project efficiently and further enhancing our service offerings.” He further emphasized AESL’s strategic positioning for participating in the upgrade and modernization of India’s energy infrastructure, with a keen eye on additional project awards in the forthcoming months.

The successful bid for this contract is in line with AESL’s strategic vision to diversify its portfolio and cement its role as a pivotal player in the energy infrastructure landscape. AESL remains committed to excellence in every project, contributing to the nation’s energy security and sustainable development. The company’s order book currently stands at approximately Rs 1200 CR, promising revenue visibility for FY25 and beyond.

Asian Energy Services Limited (BSE: 530355 | NSE: ASIANENE) provides a comprehensive range of services spanning the entire upstream value chain, including 2D and 3D Seismic Geophysical Data Acquisition, Integrated Supply and Installation of Coal Handling Plants, Rapid Loading Systems, as well as Supply, Commissioning, and Integrated Operations and Maintenance (O&M) of Onshore and Offshore Oil and Gas Production Facilities. Following its acquisition by Oilmax Energy Private Limited (OEPL), AESL has expanded its business verticals, aiming for long-term value creation for its investors and shareholders.

The procurement of this LoA by AESL is a clear indicator of the company’s solid reputation and expertise in the energy infrastructure sector, showcasing its capacity to handle large-scale projects efficiently. This project not only enriches AESL’s portfolio but also plays a crucial role in enhancing India’s energy infrastructure, marking a significant step towards the nation’s sustainable growth and energy security. With AESL’s strategic focus on diversifying its service offerings and its robust order book, the company is well-poised for substantial growth in the coming years.