Contract Details
- Contract Value: ₹187.62 Crores (including GST)
- Client: Gujarat State Electricity Corporation Limited (GSECL)
- Project: Enhancement of coal handling plant at Ukai Thermal Power Station, Gujarat
- Contract Type: Lumpsum EPC basis
- Scope: End-to-end engineering, procurement, construction, and commissioning
- Timeline: 2-3 years for execution
Strategic Significance
This contract represents the company's first major order outside Coal India and its subsidiaries and associates. It marks a diversification of the client base and entry into state utility-led infrastructure projects.
Business Impact
- Expands order book in the mineral infrastructure vertical
- Adds to revenue visibility for the next 2 years
- Strengthens the company's leadership position in coal handling infrastructure space
Management Commentary
Dr. Kapil Garg, Managing Director, stated: "Asian Energy is delighted to have won this project, which will involve upgrading the coal handling plant capacity of Ukai Thermal Power Station. The project expands our order book in the mineral infrastructure vertical and adds to our revenue visibility for the next 2 years. All our projects thus far have been for Coal India and its subsidiaries & associates, and working on this project reflects our successful efforts towards acquiring new customers for our service offerings."
Company Background
Asian Energy Services Limited offers end-to-end services across the upstream value chain, including:
- Integrated Oil & Gas services (2D and 3D Seismic Geographical Data Acquisition)
- Operations and Maintenance of Onshore and Offshore Oil and Gas Production Facilities
- Production enhancement services
- Mining services including supply and installation of Material Handling Plants and Rapid Loading Systems
Ownership Structure
Oilmax Energy Private Limited (OEPL) holds 56.01% shareholding in Asian Energy Services Limited. OEPL is an unlisted private limited company engaged in exploration, development, and production of oil & gas assets with participating interest in 5 oil & gas blocks (including one CBM block).