Punj Lloyd Joint Venture with KAEFER GmbH, Germany

Punj Lloyd Ltd has announced that the Company is entering into a joint venture with KAEFER GmbH, Germany, a world leader in the insulation business in the joint venture, the Company will hold 49%, while KAEFER would hold 51% stake.

Currently, the Company Insulations executes insulation projects like cryogenic insulation for LPG and LNG terminals, hot and cold insulation for oil and gas sector, fertiliser plants, power plants & acoustic insulation.

The joint venture Company will have three directors, two nominated by KAEFER and one by the Company.

Commenting on the JV, Mr. Atul Punj, Chairman, of the Company said, "Being a niche business, it will open up huge markets for KPLL in the booming Indian Economy".

"This joint venture is a significant business opportunity, it will open avenues for developing innovative insulation solutions for various applications. Our services will range from thermal insulations to refractory linings, coatings, acoustics & fire protection", added Mr. Punj.

Source : Equity Bulls

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