Asian Energy Services wins Rs 187.62 crore GSECL EPC contract
Asian Energy Services Limited (AESL) has secured an engineering, procurement, and construction (EPC) contract worth Rs 187.62 crore, including Goods and Services Tax (GST), from Gujarat State Electricity Corporation Limited (GSECL) for capacity enhancement of the coal handling plant at the Ukai Thermal Power Station in Gujarat.
The contract marks AESL’s first major project award from a client outside the Coal India ecosystem, expanding its presence in the power sector infrastructure segment.
The Ukai Thermal Power Station is a major coal-fired power plant in Tapi, Gujarat, with an operational capacity of 1,110 MW. The project sits along the banks of the Tapi River and relies on the nearby Ukai Dam for its water supply.
Project scope
The lump-sum EPC contract covers engineering, procurement, construction and commissioning of the upgraded coal handling system at the thermal power station.
According to the company, the project is expected to be executed over a period of two to three years.
Client diversification
AESL’s project portfolio has historically been concentrated among Coal India subsidiaries and associated entities. These include Mahanadi Coalfields Limited (MCL), Eastern Coalfields Limited (ECL), Central Coalfields Limited (CCL), South Eastern Coalfields Limited (SECL), and Singareni Collieries Company Limited.
The GSECL order represents a diversification of the company’s customer base beyond the Coal India network and strengthens its presence in state utility-led infrastructure projects.
Order book impact
The company said the contract strengthens its order book within the mineral infrastructure segment and provides revenue visibility over the medium term.
Management stated that the award reflects the company’s efforts to expand its customer base and secure projects from a broader range of infrastructure and energy sector clients.
About the company
Asian Energy Services provides services across the energy and mining sectors. Its oil and gas portfolio includes seismic data acquisition, operations and maintenance of production facilities, and production enhancement services.
The company also undertakes mining-related infrastructure projects, including material handling plant installations. Oilmax Energy Private Limited is the majority shareholder in AESL, holding approximately 56.01% of the company’s equity.
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