Mumbai, June 22: Asian Energy Services Ltd has secured a ₹187.62-crore engineering, procurement and construction (EPC) contract from Gujarat State Electricity Corporation Ltd (GSECL) for upgrading the coal handling plant at the Ukai Thermal Power Station in Gujarat.
The contract marks a strategic milestone for the company as its first major infrastructure project outside the Coal India ecosystem, broadening its customer base into state-owned power utilities.
The project involves enhancing the capacity of the Stage-II coal handling plant at the Ukai thermal power station and will be executed on a lump-sum EPC basis over a period of two to three years.
The scope of work includes engineering, procurement, construction and commissioning of the upgraded coal handling facility.
Commenting on the order, Kapil Garg, Managing Director of Asian Energy Services, said the project strengthens the company’s order book in its mineral infrastructure business while providing revenue visibility over the next two years.
“All our projects so far have been for Coal India and its subsidiaries and associates. Securing this project reflects our successful efforts to diversify our customer base and expand our service offerings beyond the Coal India ecosystem,” Garg said.
Asian Energy Services is engaged in developing coal handling systems and rapid loading infrastructure under its mineral infrastructure vertical. The company has executed projects for several Coal India subsidiaries, including Mahanadi Coalfields Ltd (MCL), Eastern Coalfields Ltd (ECL), Central Coalfields Ltd (CCL), South Eastern Coalfields Ltd (SECL), as well as Singareni Collieries Company Ltd (SCCL).
Its projects typically involve turnkey execution, including design, engineering, supply, construction, erection, commissioning and, in some cases, operations and maintenance.
The company said the GSECL order strengthens its order pipeline and reinforces its position in the coal handling infrastructure segment.
Apart from its mineral infrastructure business, Asian Energy Services provides integrated services across the upstream oil and gas sector, including seismic data acquisition, operations and maintenance of onshore and offshore production facilities, production enhancement services and material handling infrastructure. The company is promoted by Oilmax Energy Pvt. Ltd., which holds a 56.01% stake in Asian Energy Services.