Asian Energy Services Ltd secures ~Rs 148 crores contract for Coal Evacuation System at PKOCP, Manuguru Area of SCCL

Asian Energy Services Limited (AESL), an end‐to‐end service provider across the entire upstream value chain along with its JV partner Indwell has been awarded an order for Design, Supply, Erection & Commissioning and Trial Run etc for Coal Evacuation System by Belt Conveyors at PKOCP, Manuguru Area of The Singareni Collieries Company Limited (SCCL).

The total contract value is Rs 148,50,00,000 plus 18% IGST and the order will be executed over a span of 18 months.

Commenting on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, "We are delighted to announce that we have won another contract valued at ~Rs 148 crores in the coal segment. This marks our second order secured with SCCL, highlighting not only the confidence major players place in us but also our capability to consistently win repeat business from our clients. This achievement underscores our optimistic outlook on the abundant opportunities within the mineral sector, particularly in coal. It stands as a testament to our strategic shift from solely focusing on seismic services to embracing a more diversified approach. We are enthusiastic about the promising prospects that lie ahead in the mineral industry."

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 279.75 as compared to the previous close of Rs. 281.25. The total number of shares traded during the day was 8249 in over 508 trades.

The stock hit an intraday high of Rs. 295.30 and intraday low of 278.80. The net turnover during the day was Rs. 2355380.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 CoalEvacuationSystem OrderWin PKOCP TheSingareniCollieriesCompany