Asian Energy wins Rs 187.6 Cr Gujarat power EPC contract from GSECL

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Asian Energy Services has secured a Rs 187.62 crore EPC contract from Gujarat State Electricity Corporation (GSECL) for capacity enhancement of the Coal Handling Plant (Stage-II) at Ukai Thermal Power Station in Gujarat. This is the company's first major order outside Coal India and its subsidiaries, marking client diversification. The lump-sum project covers end-to-end engineering, procurement, construction and commissioning over 2-3 years, adding to revenue visibility.

Likely market impact

Positive: First major order beyond Coal India signals successful client diversification and strengthens order book with 2-3 years of revenue visibility.