Punj Lloyd bags contract worth $450 mn

MUMBAI: Punj Lloyd has received a $450 million contract for engineering, procurement and construction work at the aromatics plant at Jurong Island in Singapore.

The contract was awarded to Punj Lloyd’s subsidiary, Sembaweng Engineers and Constructors, by Jurong Aromatics Corporation, which plans to develop a $2 billion JAG complex that will produce energy and aromatic products for regional end-users as well as global downstream producers and traders in the textile and plastics industries.

Work on the JAG Complex will start in 2008 and is slated for completion in 2011. With this, the order backlog for Punj Lloyd group is Rs 18,622 crore.

At 3:09 pm, Punj Lloyd shares were up 6.14 per cent at Rs 592 on BSE.