Punj Lloyd acquires the balance stake in Sembawang Engineers & Constructors, Singapore

Punj Lloyd Ltd on October 19, 2006 has announced that the Company has through its wholly owned subsidiary Punj Lloyd Pte Ltd, acquired the balance 12% shareholding of Sembawang Engineers & Constructors (earlier known as SembCorp Engineers & Constructors (SembE&C)). This has made Sembawang a wholly owned subsidiary of Punj Lloyd Pte Ltd, which had earlier acquired 88% stake in SembE&C in June 2006.

Sembawang E&C is a design-and-build engineering and construction service provider with core capabilities encompassing process & plant engineering, heavy civil engineering and building.

Punj Lloyd group now offers a complete portfolio of EPC solutions with airports, jetties, MRT/LRT, tunneling, sewerage amongst others, as its capabilities in infrastructure domain, in petrochemical sector. Punj Lloyd is leveraging Simon-Carves's (a wholly owned subsidiary of SembE&C) capabilities in engineering, procurement and construction of LDPE, PVC, Styrene and refinery processes domain.

Source : Equity Bulls

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