Asian Energy Services Ltd (AESL), a leading player in the energy infrastructure sector, has announced its latest triumph in receiving a momentous LoA (alongside its JV partner) from Central Coalfields Ltd (subsidiary of Coal India Ltd). The work programme encompasses Planning, Design, Engineering, Construction, Fabrication, Erection, Supply, Installation, Testing, Trial run and Commissioning of a Coal Handling Plant, along with SILO loading at KARO OCP consisting of all Civil, Structural, Electrical and Mechanical Works and Operation & Maintenance of the plant for 5 years. This esteemed project is valued at INR 250 crore rupees inclusive of taxes.
This LoA marks a major milestone for AESL, not only expanding its services portfolio but also reinforcing its presence in the rapidly expanding energy infrastructure sector in India. The execution of works under this project will contribute significantly to the company's financial performance in FY25 and FY26 while providing long-term revenue visibility.
Mr. Kapil Garg, MD of Asian Energy Services Ltd, expressed his excitement, 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. We are well positioned to partake in the ongoing upgradation and modernization of India's energy infrastructure and are on the lookout for more project awards in the coming months. These projects will further reinforce the bedrock of AESL's order book, which currently stands at approximately Rs 1200 CR, and provide revenue visibility for FY25 and beyond."
The successful bid for this contract aligns with AESL's strategic vision to diversify its portfolio and solidify its position as a key player in the energy infrastructure landscape. The company remains dedicated to delivering excellence in every project it undertakes, thereby contributing to the nation's energy security and sustainable growth.
Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 323.50 as compared to the previous close of Rs. 323.20. The total number of shares traded during the day was 12208 in over 586 trades.
The stock hit an intraday high of Rs. 332.25 and intraday low of 314.70. The net turnover during the day was Rs. 3956550.00.