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Punj Lloyd Bags Mega Order From Libyan Firm
Engineering and construction company Punj Lloyd Ltd has bagged an order worth over Rs 1,347 crore ($290 million) from Libya’s Sirte Oil Company for pipeline projects.
Punj Lloyd informed the Bombay Stock Exchange that the order, to be executed on EPC (Engineering Construction and Procurement) basis, comprises two contracts. The first contract, worth over Rs 692 crore ($149 million) involves the construction of the main 34 inch diameter, 98.4 km pipeline from Tripoli to Melita. It also entails the construction of a 24 inch diameter, 21 km branch pipeline to the Zawia power plant, the company said. The work, scheduled to be completed in 22 months, involves the construction of gas pressure reducing and metering stations and a compressor station at Melita.
Under the second contract worth over Rs 655 crore ($141 million) the company would complete a 34 inch diameter, 157 km El Khoms-Tripoii pipeline. Punj Lloyd said it would also undertake civil, mechanical, electrical and instrumentation work on the gas pressure reducing, metering and compressor stations at Sidra and Wachkah. This project is scheduled to be completed in 18 months. “This is an important milestone for Punj Lloyd and will help us to set a strong foothold in Maghreb and Africa,” the company’s Chairman Atul Punj said.
Earlier, Punj Lloyd has forged a joint venture with Kaefer Insulation of Germany to set up a large cold chain network across South Asia. The Delhi-based engineering construction company will hold 49 per cent equity in the venture and the German partner the remaining 51 per cent.
The joint venture, christened Kaefer Punj Lloyd Insulations (KPIL), will have three directors – two nominated by Kaefer and one by Punj Lloyd. While Punj Lloyd executives declined to comment, sources close to the development said the joint venture, operating in a niche area, would look to cash in on the needs of the big players entering the retail sector. Some of the biggest names in the country’s corporate world have lined up retail plans including Mukesh Ambani-controlled Reliance Industries, which will kick off its Rs 25,000 crore effort next month.
KPIL’s cold chain network is expected to include all insulation projects like cryogenic insulation for liquefied petroleum gas and compressed natural gas tanks, hot and cold insulation for the oil and gas sector, fertiliser plants, power plants, acoustic insulation and insulated panels for the food industry.
Founded in 1918, Kaefer is a leading company in noise control, heat and cold insulation. Punj Lloyd recently acquired a majority stake in Singapore’s SembCorp Engineers & Constructors, a $1 billion company. It has also entered into a joint venture in Saudi Arabia, Dayim-Punj Lloyd Engineering. Punj Lloyd declared a consolidated income of Rs 1716.59 crore for 2005-06, a 10.6 per cent drop over the previous year’s figure. The compant, however, expects to end the current financial year with a turnover of up to Rs 3,750 crore.
The engineering firm has just won an order from Rajasthan Vidyut Utapadan Nigam Ltd, Jaipur, for a 2x250 mw Chabbra Thermal Power Station worth Rs 823 crore.
Engineering and construction company Punj Lloyd Ltd has bagged an order worth over Rs 1,347 crore ($290 million) from Libya’s Sirte Oil Company for pipeline projects.
Punj Lloyd informed the Bombay Stock Exchange that the order, to be executed on EPC (Engineering Construction and Procurement) basis, comprises two contracts. The first contract, worth over Rs 692 crore ($149 million) involves the construction of the main 34 inch diameter, 98.4 km pipeline from Tripoli to Melita. It also entails the construction of a 24 inch diameter, 21 km branch pipeline to the Zawia power plant, the company said. The work, scheduled to be completed in 22 months, involves the construction of gas pressure reducing and metering stations and a compressor station at Melita.
Under the second contract worth over Rs 655 crore ($141 million) the company would complete a 34 inch diameter, 157 km El Khoms-Tripoii pipeline. Punj Lloyd said it would also undertake civil, mechanical, electrical and instrumentation work on the gas pressure reducing, metering and compressor stations at Sidra and Wachkah. This project is scheduled to be completed in 18 months. “This is an important milestone for Punj Lloyd and will help us to set a strong foothold in Maghreb and Africa,” the company’s Chairman Atul Punj said.
Earlier, Punj Lloyd has forged a joint venture with Kaefer Insulation of Germany to set up a large cold chain network across South Asia. The Delhi-based engineering construction company will hold 49 per cent equity in the venture and the German partner the remaining 51 per cent.
The joint venture, christened Kaefer Punj Lloyd Insulations (KPIL), will have three directors – two nominated by Kaefer and one by Punj Lloyd. While Punj Lloyd executives declined to comment, sources close to the development said the joint venture, operating in a niche area, would look to cash in on the needs of the big players entering the retail sector. Some of the biggest names in the country’s corporate world have lined up retail plans including Mukesh Ambani-controlled Reliance Industries, which will kick off its Rs 25,000 crore effort next month.
KPIL’s cold chain network is expected to include all insulation projects like cryogenic insulation for liquefied petroleum gas and compressed natural gas tanks, hot and cold insulation for the oil and gas sector, fertiliser plants, power plants, acoustic insulation and insulated panels for the food industry.
Founded in 1918, Kaefer is a leading company in noise control, heat and cold insulation. Punj Lloyd recently acquired a majority stake in Singapore’s SembCorp Engineers & Constructors, a $1 billion company. It has also entered into a joint venture in Saudi Arabia, Dayim-Punj Lloyd Engineering. Punj Lloyd declared a consolidated income of Rs 1716.59 crore for 2005-06, a 10.6 per cent drop over the previous year’s figure. The compant, however, expects to end the current financial year with a turnover of up to Rs 3,750 crore.
The engineering firm has just won an order from Rajasthan Vidyut Utapadan Nigam Ltd, Jaipur, for a 2x250 mw Chabbra Thermal Power Station worth Rs 823 crore.
posted by Raj @ 12:24 PM
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1 Comments:
Punjlyod currently trading at 753 which seems to be extremely undervalued as per according to its order book.6 month target is 1057.
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