Punj Lloyd gains on order from IOC for Haldia refinery

The order from IOC worth Rs 1,094 crore is for EPCC package 2 at Haldia refinery

Shares of Punj Lloyd were up 6% at Rs 25.65 on the Bombay Stock Exchange after the company said it has received a turnkey contract for the EPCC package 2 at Haldia refinery worth Rs 1,094 crore from Indian Oil Corporation.

The scope of work for the project involves the Residual Process Design, detailed engineering including HAZOP study, engineering, procurement, construction and commissioning of the sulphur block comprising the Sulphur Refinery Unit, Amine Regeneration Unit, the Sour Water Stripper including utilities and offsite facilities, Punj Lloyd said in a release.

The stock opened at Rs 24.40 and touched a high of Rs 26.30. At 11:55AM, over 3 million shares were traded on both the stock exchanges.