Asian Energy secures ₹21.9 crore contract from Eastern Coalfields for Rajmahal project; stock gains over 2%

Asian Energy Services Ltd clinched a contract from Eastern Coalfields Limited (ECL), a subsidiary of Coal India Limited. The contract entails the construction of plough feeders and associated civil works at the existing coal handling plant in Rajmahal, Jharkhand’s Godda district. The project is valued at Rs 21.9 crore, projected to be completed in 8 to 9 months.

The company informed, beyond its impact on the company’s financial outlook, the contract contributes to the nation’s overall growth trajectory in the energy sector.

Kapil Garg, MD of Asian Energy Services Ltd, said, “We are honoured to be selected by Eastern Coalfields Limited for this project. This undertaking strengthens our commitment to delivering high-quality services in the energy infrastructure domain. We look forward to executing the project efficiently and contributing to the development of the region’s coal handling capabilities. 

With this project, AESL is now executing 4 contracts in the infrastructure space and looking to add more such projects in the coming months. The upgradation and modernization of the energy and mineral logistics infrastructure are gaining momentum in India, and we are ready to take a substantial part in it.”

The shares were up by 2.37 per cent to Rs 276.95 at close on the BSE.

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