Asian Energy Services wins Rs 236cr contract for coal handling infrastructure
Asian Energy Services Limited (AESL) has won a contract valued at INR 236 crores from Heavy Engineering Corporation Ltd for coal handling infrastructure at Gevra in Chhattisgarh.
The contract marks a significant achievement for the company in its efforts to enter the coal infrastructure sector, which had started last year. Formerly, Asian Oilfield Services Limited, the company had diversified from mainly oil and gas to other energy services.
Asian Energy Services said that it has also been named as an approved awardee for a coal handling infrastructure project at Hura OCP by Eastern Coalfields. The contract is worth INR 128 crores and a letter of award (LOA) from Eastern Coalfields is awaited once the required land acquisition is wrapped up.
Asian Energy Services wins Rs 236cr contract for coal handling infrastructure. Photo courtesy of Анатолий Стафичук from Pixabay.
According to Asian Energy Services, to cut down the transportation of coal on roads and make Indian mining infrastructure efficient and modern, coal handling facilities that have fast loading systems are currently being established in mines.
At least 35 projects are likely to be put into operation in the next years with an estimated capital investment of INR 17,000 crores in the fiscal year 2022 by Coal India Limited. Asian Energy Services said that it will also be bidding on projects in this area to build on its expertise and expand its presence in this line of business.
Ashutosh Kumar — Whole-time Director and CEO of Asian Energy Services said: “We are very delighted to announce receipt of our First LOA in Energy Infrastructure Sector. We have also secured one more project in this segment and we are confident of delivering these projects in time.
“As the modernization of existing infra and creation of new infra is taking centerstage of Govt of India, we will see plenty of opportunities in this segment and with successfully bagging initial projects, AESL is geared up to participate in this.
“This fits well into AESL vision of growth and expansion as it opens up avenues to expand our portfolio of services for bulk materials handling and mine development operations.”