Punj Lloyd bags $108 mn order

Punj Lloyd bags $108 mn order
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First Published: Fri, Jul 18 2008. 01 46 PM IST
Updated: Fri, Jul 18 2008. 01 46 PM IST
PTI
Mumbai: Punj Lloyd has bagged an offer worth $108 million (about Rs462 crore) from Spain-based Tecnicas Reunidas for mechanical works.
“Punj Lloyd has received this order on two off-sites and utilities project of UAE-based Abu Dhabi Polymers Company,” it said in a filing to the Bombay Stock Exchange.
The scope of the work involves mechanical in areas including steel, piping fabrication and equipment erection.
Abu Dhabi Polymers Co is a joint venture between Abu Dhabi National Oil Co and Vienna-based Borealis. In the year 2007, the company had signed a contract with Spain’s Tecnicas Reunidas SA to build off-site and utility facilities.
Earlier, on 31 March, the company had received an order worth $68 million from Italy-based Tecnimont SpA for polyolefins project of Abu Dhabi Polymers Company.
Shares of the company reacted positively to this news and surged 3.66% to touch an intra-day high of Rs217.60 on the BSE.
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First Published: Fri, Jul 18 2008. 01 46 PM IST