Engineering and construction conglomerate Punj Lloyd said it has bagged a Rs 1,311.19 crore contract in joint venture with Public Works Company of Libiya for the urban infrastructure development project.
The 60:40 joint venture will develop utilities in Souk Al Juma, Tripoli, Libya.
Awarded by Housing and Infrastructure Board, the project includes engineering, procurement, construction and commissioning of infrastructure networks, water-sewerage-stormwater mains and branch lines, roads and other facilities for Souk Al Juma. It has to be completed in 40 months.
This contract comes close on the heels of the Rs 1,050.05 crore mega contract Punj Llyod won early this month to upgrade the infrastructure of Arada, an existing township in Tripoli.
"Libiya is a key market for Punj Lloyd and the group plans to expand its presence in the promising business environment of the country," Atul Punj, Chairman, Punj Lloyd Group said.
Punj Lloyd bagged its first contract in Libya in August 2006 for the engineering, construction and procurement of oil and gas projects for the Sirte Oil Company. Valued at $290 million, this was the Group’s single largest order win then and made a strong entry into the African Continent.
With 60 per cent of the order values of both these Tripoli infrastructure orders, the order backlog for the Punj Lloyd Group on consolidated basis has gone up to Rs 23,952 crore. This is the total value of unexecuted orders as of September, 2008 and new orders received till date, a company press release said.