Punj Lloyd gets Rs 3254 cr buildings project
Diversified global conglomerate Punj Lloyd has signed a contract worth USD 540 million (Rs. 3,254 crores) for a buildings and infrastructure project with the Housing and Infrastructure Board (HIB) in Libya.
Punj Lloyd's scope comprises the infrastructure work for the city of Zliten, spanning across an area of over 2400 hectares in the Misuratah region.
It is located 100 km east of Tripoli in the capital of Libya.
The work involves designing and construction of the storm and sewer network; water network, telecommunication and power distribution network, natural gas network, street lighting and road network including traffic management system, landscaping and streetscaping including parks and green areas.
According to Pardeep Tandon, President and CEO, Buildings and Infrastructure, "It is an excellent opportunity for the Group to showcase its infrastructure capabilities in the free Libyan economy. The project was won amidst tough global competition."
This repeat order by HIB post the Libyan unrest is a reflection of Punj Lloyd's execution capabilities in infrastructure.
Punj Lloyd is already delivering infrastructure projects for the Housing and Infrastructure Board (HIB) in major townships of Arada, Souk Al Juma, Zawara, Ragdaleen, and Al Jamail. The projects comprise engineering, procurement, construction and the commissioning of utilities including water, sewage, storm water main and branch lines, roads and other facilities.
All projects in Libya have been reactivated and work is ongoing, the company said in a statement.
With this new order, the Group's order backlog stands at Rs. 22,106 crores. The order backlog is the value of unexecuted orders on Dec 31, 2013 plus new orders received after that date.
(Posted on 15-04-2014)