Asian Energy Services Ltd - FFIL JV receives LOA for Coal Handling Plant at RGOC3 from SCCL

Asian Energy Services Limited ("AESL") along with its JV partner Furnace Fabrica (India) Limited ("FFIL"), has secured the contract worth 161 Cr (excluding GST) from The Singareni Collieries Company Limited for the design, supply, erection, commissioning, construction and testing of a coal handling plant at RG OC3, Telangana.

The third of its kind, Asian has achieved a key milestone with this project to emerge as a dependable and cost efficient service partner to the Indian Coal Industry.

"Asian Energy Services Ltd is well-positioned to engage in further development and expansion, and is scouting opportunities to broaden our service offerings in energy sector. The commencement of Operation & Maintenance services in the offshore/onshore processing facility located in Suvali and construction of Coal Handling Plants for ECL for Rajmahal Hura C-OCP, located in Jharkhand at the start of 2022 has been a conscious move in this direction. We are quite confident of turning coal evacuation infrastructure into a stable business vertical as Government aims to increase domestic coal production to 1.2 billion metric tonnes" Mr. Ashutosh Kumar, Whole-time Director and CEO.

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 71.55 as compared to the previous close of Rs. 71.90. The total number of shares traded during the day was 2708 in over 159 trades.

The stock hit an intraday high of Rs. 72.75 and intraday low of 71.20. The net turnover during the day was Rs. 193891.00.

Source : Equity Bulls

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