Punj Lloyd bags Rs 358 crore order from Chennai Petroleum

NEW DELHI: Engineering major Punj Lloyd today said it has bagged Rs 358 crore order from Chennai Petroleum Corporation Ltd (CPCL) to build the Sulphur Block of Resid Upgradation Project at its Manali refinery near Chennai.


"Punj Lloyd has been awarded a contract worth Rs 358 crore by Chennai Petroleum Corporation Ltd (CPCL) to build the Sulphur Block of Resid Upgradation Project at its Manali refinery," the company said in a statement.

The scope of work includes residual basic and detailed engineering, procurement, construction, installation among others for the sulphur block on a single point responsibility basis, the company said.

Commenting on the order, its President and CEO, Energy-South Asia Shivendra Kumar said, "Punj Lloyd is well placed to deliver this project and it has executed a similar project for CPCL earlier besides other sulphur blocks for Mathura refinery, Paradip refinery of Indian Oil Corporation and Bina refinery for Bharat Oman Refinery."

The project is expected to be commissioned in December 2015.

With this contract, the order backlog for the Punj Lloyd Group on a consolidated basis has gone up to Rs 21,226 crore, reflecting the total value of unexecuted order as on June 30, 2013 and the orders received after the day, the company said.

Shares of the company were up 3.90 per cent at Rs 25.30 a piece on the BSE at 1400 hours.