Punj Lloyd bags three contracts worth Rs.1,595 cr

NEW DELHI - Engineering and construction firm Punj Lloyd Wednesday said it has bagged three new contracts worth Rs.1,595 crore for development of oil refinery and infrastructure projects.

The biggest contract is from Indian Oil Corporation worth Rs.1,123 crore for development of the Paradip refinery project in Orissa.

The scope of work includes design, engineering, procurement, construction and commissioning of the Kero treatment unit, sulphur recovery unit, alkylation unit and spent acid regeneration unit among others for the lumpsum turnkey package B of the IOCL Paradip refinery project, a company statement said.

The government has designated the project as a fast track one. Construction will be executed over a period of 21 months, it said.

Other deals of Punj Lloyd include a Rs.288 crore contract from Harouge Oil Operations in Libya and a Rs.184 crore order from the West Bengal government.

Contract wins across oil and gas and infrastructure sectors in diverse geographies is a clear recognition of our expertise and global presence, said Atul Punj, chairman of the Punj Lloyd Group.

The fast track order from Indian Oil Corporation is an acknowledgement of our excellent track record for successful completion of challenging projects within tight schedules, he said.