AESL Bags Rs 250 Crore Coal Handling Plant Project

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Coal

Asian Energy Services Ltd (AESL), in conjunction with its collaborative venture partner, has successfully obtained a Letter of Award (LoA) from Central Coalfields Ltd, a subsidiary under the umbrella of Coal India Ltd, for a project valued at ₹250 crore.

Asian Energy Services Ltd is one of the leading energy solutions providers in Asia. With a diverse portfolio, the company specializes in offering innovative and sustainable energy solutions tailored to meet the needs of its clients across various sectors. From renewable energy projects to energy efficiency initiatives, ASEL is committed to driving positive change in the energy landscape.

The scope of this project entails planning, design, engineering, construction, fabrication, seamless erection, supply, installation, thorough testing, trial run, and commissioning of a Coal Handling Plant at KARO OCP. This includes overseeing all aspects of civil, structural, electrical, and mechanical works, alongside a committed five-year operation and maintenance contract.

In a statement, the company expressed that this Letter of Agreement (LoA) signifies a milestone for AESL, not only broadening its spectrum of services but also consolidating its foothold within the rapidly expanding energy infrastructure sector in India. The commencement of activities under this project is poised to make a contribution to the company’s financial performance throughout the fiscal years of 2025 and 2026, all the while ensuring sustained revenue visibility in the long term.

Kapil Garg, Managing Director of AESL, expressed profound enthusiasm regarding the accolade bestowed upon the company. He underscored the significance of securing the Letter of Award (LoA) from CCL, hailing it as a compelling testament to AESL’s unparalleled expertise and sterling reputation within the dynamic energy sector. Garg articulated how this achievement bolsters AESL’s commitment to the delivery of exemplary projects and services.

Moreover, Garg accentuated the pivotal role this project plays in augmenting AESL’s burgeoning order book, which now boasts a formidable valuation of approximately ₹1200 crore. This milestone not only fortifies AESL’s financial outlook but also provides a robust foundation for revenue sustainability well into the fiscal year 2025 and beyond.

The acquisition of this contract aligns with AESL’s overarching strategic vision, aimed at diversifying its portfolio and cementing its stature as a preeminent entity within the expansive energy infrastructure domain. Garg reiterated AESL’s dedication to upholding excellence in every endeavor it embarks upon.

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