Asian Energy Services Ltd Secures New Contract from Eastern Coalfields Limited

Asian Energy Services Ltd (AESL), a leading player in the energy infrastructure sector, is delighted to announce its recent triumph in winning a pivotal contract (alongside JV partner) from Eastern Coalfields Limited (ECL), a subsidiary of Coal India Limited. The contract involves the construction of plough feeders and associated civil works at the existing coal handling plant in Rajmahal, located in the Godda district of Jharkhand. The esteemed project, valued at 21.9 crore rupees, is anticipated to take 8 to 9 months to complete.

This accomplishment marks a significant milestone for AESL, reinforcing its presence in the rapidly expanding energy infrastructure sector in India. The contract not only enhances the company's financial outlook but also contributes to the nation's growth trajectory in the energy sector.

Mr. Kapil Garg , MD of Asian Energy Services Ltd, expressed his enthusiasm, stating, "We are honoured to be selected by Eastern Coalfields Limited for this project. This undertaking strengthens our commitment to delivering high-quality services in the energy infrastructure domain. We look forward to executing the project efficiently and contributing to the development of the region's coal handling capabilities. With this project, AESL is now executing 4 contracts in the infrastructure space and looking to add more such projects in the coming months. The upgradation and modernization of the energy and mineral logistics infrastructure is gaining momentum in India, and we are ready to take a substantial part in it".

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. 275.75 as compared to the previous close of Rs. 270.65. The total number of shares traded during the day was 15981 in over 859 trades.

The stock hit an intraday high of Rs. 283.00 and intraday low of 268.20. The net turnover during the day was Rs. 4417780.00.

Source : Equity Bulls

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