Punj Lloyd secures Yemen contract worth Rs 3210 mn

Punj Lloyd Ltd has announced that the Company has secured its first contract in the Republic of Yemen from Yemgas, the joint venture formed by Technip France, JGC Corporation, Japan and Kellogg - Brown & Root Inc., UK.

Valued at US $ 69.2 million, the contract involves construction of civil, mechanical, piping, electrical & instrument, insulation and painting work for off sites and utilities of the prestigious Yemen LNG project. The project would be completed in 28 months.

The project is being executed for Yemen LNG Company Ltd, the Company formed by TOTAL, Yemen Gas Company, Hund Oil Exxon, Sunkyong and Hyundai. It is developing a LNG Liquefaction and 6.8 MMTPA Export Terminal at Behalf in Yemen.

With this the order backlog for PLL group is Rs 97380 million. This is the total value of unexecuted orders as of August 01, 2006 and new orders received till date.

Commenting on the winning the contract, Mr Atul Punj, Chairman of the Company, said, "construction of cryogenic facilities is the core competence of Punj Lloyd and select few in the world undertake such specialized works. This is an important milestone for Punj Lloyd. We have been looking at expanding our geographies and this order, will help us further strengthen our foothold in Middle East."

Source : Equity Bulls

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