Punj Lloyd bags $290mn deal from Libyan firm

Punj Lloyd has secured an order from Libya-based Sirte Oil Company for pipeline projects on EPC basis valued at $290 million.

According to a release issued by Punj to the BSE today, this is the single largest ever contract bid won by the company.

"The order comprises of two contracts. The first contract, valued at $149 million, involves the construction of the main 34" dia, 98.4 km pipeline from Tripoli to Melita and a 24" dia, 21 km branch pipeline to the Zawia power plant. The work involves the construction of gas pressure reducing & metering stations and a compressor station at Melita. The work is scheduled to be completed in 22 months.

"The second contract, valued at $141 million, involves completion of the 34" dia, 157 km El Khoms-Tripoii pipeline, extensive civil, mechanical, electrical and instrumentation work on the gas pressure reducing, metering & SV stations, compressor stations at Sidra & Wachkah, telecommunication & SCADA works. This is scheduled to be completed in 18 months," the release added.

With this win, the order backlog for Punj Lloyd group (including Sembawang Engineers & Constructors, Singapore) is Rs 11,909  crore, the release added.