Punj Lloyd bags $800 mn contract from Qatar Petroleum

Punj Lloyd bags $800 mn contract from Qatar Petroleum

Mumbai: Engineering firm Punj Lloyd on Tuesday said it has bagged a $800 million (Rs 3,636 crore) contract for construction related work from Qatar Petroleum.

In a filing to the Bombay Stock Exchange, Punj Lloyd said that under the contract it would undertake engineering, installation and commissioning order for laying of 211 km pipeline. The project would be completed in 32 months.

“This is the fourth Engineering, Procurement and Construction (EPC) contract that we have bagged in Qatar. The project will facilitate in meeting the power and water production growth of Qatar," Punj Lloyd Group Chairman Atul Punj said.

The company is also executing EPC projects, including the Doha Urban Pipeline Relocation and the Multi-Product Pipeline from Qatar Petroleum Refinery to Doha Depot and fuel systems for the New Doha International Airport.

“Owing to the rapid infrastructure and oil and gas development in the region, we will continue to secure large ticket orders for our portfolio," he added.

With this, the order backlog for Punj Lloyd Group stands at Rs24,063 crore.

Shares of Punj Lloyd were trading at Rs296.70, up 0.95% in the late afternoon trade on the BSE.