GEL.L Share News (GEL)

(ShareCast News) - Shares in Greka Engineering & Technology surged on Thursday after it said it has entered into a construction contract with a state-owned Chinese coalbed methane company.The contract, with China United Coalbed Methane Corporation (CUCBM), is to modify the power facilities of four valve groups for the purpose of connecting and powering 56 CUCBM wells and follows a successful pilot program that was completed last year.Under the contract, which requires the work to be completed by the end of 2015, Greka will be responsible for power line construction and support equipment installation.Chairman Randeep S Grewal said: "We are pleased to see the development of our relationship with CUCBM. With over 1,500 wells ultimately requiring connections to power grids at the GSS block, this represents an excellent growth opportunity for the company, which should both expand our engineering footprint and contribute to the company's profitability this year and beyond."Greka is a provider of engineering, procurement, construction and management services for infrastructure projects.At 1323 BST, Greka shares were up 143% at 1.40p.