Asian Energy Secures ₹187.6-Crore Contract from Gujarat State Electricity Corporation.

Asian Energy Services Ltd. recently secured a ₹187.62-crore engineering, procurement and construction (EPC) contract from Gujarat State Electricity Corporation Ltd (GSECL) for capacity enhancement of the coal handling plant at the Ukai Thermal Power Station in Gujarat.

The order marks the company's first major contract outside the Coal India ecosystem, representing a strategic diversification of its client base toward state utility-led infrastructure projects.

Under the contract, Asian Energy will undertake end-to-end engineering, procurement, construction and commissioning of the Coal Handling Plant (Stage-II) at the Ukai facility on a lump-sum EPC basis. The project is expected to be completed within two to three years.

Investors reacted positively to the development, with shares of Asian Energy rising 3.61 per cent to ₹380.50 on Monday. The stock recorded a traded value of ₹19.80 crore during the session.

Asian Energy has delivered strong market performance, with its shares gaining nearly 35 per cent so far this year and generating returns of more than 211 per cent over the past three years. The company currently has a market capitalisation of about ₹1,717 crore.