Asian Energy Secures Rs 187.6 Crore EPC Contract from GSECL, Signaling Diversification Beyond Coal India
Asian Energy Services Limited has secured a significant strategic contract, winning a Rs 187.62 Crores Engineering Procurement Construction (EPC) deal from Gujarat State Electricity Corporation Limited (GSECL). The project involves the enhancement of a coal handling plant in Ukai, Gujarat, marking a key milestone for the company as its first major order outside Coal India and its affiliated entities.The contract covers the capacity enhancement of the Coal Handling Plant (Stage-II) at the Ukai Thermal Power Station in Gujarat. Executed on a lumpsum EPC basis, the scope involves end-to-end engineering, procurement, construction, and commissioning, which is scheduled to take place over two to three years.
Dr. Kapil Garg, Managing Director of Asian Energy Services Limited, stated that the project expands the company's order book within the mineral infrastructure vertical and adds revenue visibility for the next two years. He noted that while all previous projects were focused on Coal India and its associated entities, this contract reflects successful efforts toward acquiring new customers for AESL’s service offerings.
The acquisition of the GSECL project reinforces Asian Energy's leadership in the coal handling infrastructure space and strengthens its order book. Through its mineral infrastructure vertical, the company develops various coal handling systems, supporting multiple projects across Coal India subsidiaries including MCL, ECL, CCL, SECL, and Singareni Collieries Company Limited in Telangana. These projects typically require turnkey execution, covering design, engineering, supply, construction, erection, commissioning, and sometimes operations and maintenance.
Asian Energy Services Limited (AESL) offers end-to-end services spanning the entire upstream value chain. Its service offerings include Integrated Oil & Gas services such as 2D and 3D Seismic Geographical Data Acquisition, and Operations and Maintenance of Onshore and Offshore Oil and Gas Production Facilities. AESL’s mineral services portfolio includes the supply and installation of Material Handling Plants and Rapid Loading Systems.
The company has diversified its business verticals since its acquisition by Oilmax Energy Private Limited (OEPL), aiming for long-term value creation across the energy and upstream oil and gas value chains. OEPL, which holds 56.01% of AESL’s shareholding, is engaged in exploration, development, and production of oil and gas assets in India, maintaining a diversified portfolio across various onshore oil and gas blocks. OEPL has also expanded into the mineral sector, having acquired a quartzite block.
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