Asian Energy Services Ltd secures ~Rs 200 crores contract from Assam Gas Company Ltd

Asian Energy Services Limited (AESL), an end‐to-end service provider across the entire upstream value chain has been awarded an order from Assam Gas Company Limited for Supplying Compressor Station on Build, Own, Operate, and Transfer (BOOT) basis for 3 years.

The total contract value is ~Rs 200 crores of which ~Rs 82 crores to be realised in the first year on Free on Truck (FOT) site basis which is inclusive of freight, unloading and stacking but exclusive of GST.

The Mobilisation of 1st Compressor is expected to be completed in Q4FY25 and the rest will be completed in the following Financial Year.

Commenting on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, "We are delighted to announce that we have been awarded a significant contract by Assam Gas Company Limited to supply and operate a compressor station on BOOT basis for a period of three years. This achievement underscores our unwavering commitment to the operations and maintenance segment and highlights our proven expertise in delivering end-to-end upstream energy solutions. With the government's increasing emphasis on natural gas as a key component of the energy transition, we are well-positioned to leverage emerging opportunities in this evolving sector."

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 383.20 as compared to the previous close of Rs. 380.30. The total number of shares traded during the day was 74282 in over 1955 trades.

The stock hit an intraday high of Rs. 399.05 and intraday low of 378.35. The net turnover during the day was Rs. 29059698.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 OrderWin AssamGasCompany