Undulating mountains, dense rainforests and unrelenting weather, nothing deterred Punj Lloyd from completing one of the largest pipelines of Malaysia. Worth US$822 million, the prestigious contract for the construction of the 512 km, 36 inch dia pipeline was awarded to Punj Lloyd by Petronas for transporting gas from the Sabah Oil and Gas Terminal to the Petronas LNG Complex at Bintulu, Sarawak. July 2017 saw the challenging project achieve financial closure.
While signing the Final Acceptance Certificate at the special closing ceremony hosted by Petronas at the iconic Twin Towers in Malaysia, Atul Jain, Director - Punj Lloyd said, "The completion of this landmark project gives us a sense of contentment, pride and achievement. This is an important milestone for Punj Lloyd as we have completed the project to our client's satisfaction and have received the Final Acceptance certificate from them. He further added, "Our relationship with Petronas has been built on trust and delivery and we are committed to complete their other ongoing project - RAPID Tank Farm to their satisfaction. This is the largest EPC Pipeline project that Punj Lloyd has executed till date."
The pipeline construction involved as many as 3000 crossings including eight major and 1,711 minor river crossings, 29 major road crossings, 1157 minor road crossings, 17 thrust boring and 24 horizontal directional drilling crossings. The Horizontal Directional Drilling was performed in deep valleys and the thrust boring in swamp areas.
Natives inhabit a large portion of the pipeline route and in the course of laying the pipeline, the Company engaged with nine different tribes along the route. This was one of the most challenging projects for Punj Lloyd in terms of logistics and difficult terrain. The pipeline passed through rocky mountains and swampy stretches of 56 km, thick vegetation comprising dense rainforest and oil palms. However, as established all-terrain experts, the experienced project team was fast to find solutions around the inhospitable terrain. Air crane helicopters were deployed for airlifting and transporting pipes in inaccessible areas. All vehicles were provided with full width off road tyres and excavators with special track grip for steep slopes up to 76 degrees. Specially designed internal crawlers were used for non-destructive testing of the pipeline, among many others.
Shares of PUNJ LLOYD LTD. was last trading in BSE at Rs.21.35 as compared to the previous close of Rs. 20.8. The total number of shares traded during the day was 1198766 in over 2294 trades.
The stock hit an intraday high of Rs. 22.5 and intraday low of 20.35. The net turnover during the day was Rs. 25742516.