Punj Lloyd JV secures Rs 1,311.19 crore contract

NEW DELHI: Punj Lloyd Group, an engineering, procurement and construction (EPC) conglomerate, in 60:40 joint venture with Public Works Company Tripoli, on Thursday announced a new contract win valued at Rs 1,311.19 crore for the execution of utilities in Souk Al Juma, Tripoli, Libya. Awarded by Housing and Infrastructure Board, this contract is scheduled for completion in 40 months. This project win comes close on the heels of the Rs 1050.05 crore mega contract that the Group won early this month to upgrade the infrastructure of Arada, an existing township in Tripoli.

The scope of this project includes engineering, procurement, construction and commissioning of infrastructure networks, water-sewerage-stormwater mains & branch lines, roads & other facilities for Souk Al Juma.

"Libya is a key market for Punj Lloyd and the Group plans to expand its presence in the promising business environment of the country," said Atul Punj, Chairman, Punj Lloyd Group. He further added, "Infrastructure renewal, modernisation and development play a large role in Libya's progress and we are proud to be a part of this process. This further establishes our global capabilities."

Punj Lloyd bagged its first contract in Libya in August 2006 for the engineering, construction and procurement of oil and gas projects for the Sirte Oil Company. Valued at USD 290 million, this was the Group's single largest order win then and made a strong entry into the African Continent. With these four contract wins, the Group is confident of showcasing its technical excellence and ability to deliver a seamless experience for its customers.

With 60% of the order values of both these Tripoli infrastructure orders, the order backlog for the Punj Lloyd Group on consolidated basis has gone up to Rs 23952 crore. This is the total value of unexecuted orders as of September, 2008 and new orders received till date.