New Delhi: Engineering, procurement and construction firm Punj Lloyd has secured a Rs649-crore contract from Indian Oil Corporation for construction works at the oil major’s Barauni refinery in Bihar.
Punj Lloyd will upgrade the refinery to improve quality of motor spirit (gasoline) to meet Euro-III emission norms for reducing vehicular pollution. The project is scheduled to be commissioned within 23 months, a statement by the company said.
This is the fifth engineering, procurement and construction (EPC) contract from Indian Oil to Punj Lloyd and the second motor spirit quality upgradation project given by the state-run oil marketing company to it.
The EPC firm yesterday informed the stock exchanges that it had signed an agreement with Singapore Technologies Kinetics (ST Kinetics) for the manufacture of defence equipment for India.
Earlier, Punj Lloyd had been issued a license by the government for manufacturing guns, rockets and missile artillery systems and other defence related equipment.