Punj Lloyd wins Rs 1,163cr IOC deal

Punj Lloyd has won two contracts, totalling Rs 1,163 crore, for the refinery project being implemented by Indian Oil Corporation at its complex in Haldia, West Bengal.

According to a release issued by Punj Lloyd to the BSE today, the Contracts awarded are on EPC basis for the hydrocracker (capacity 1.7 MMTPA) and hydrogen generation unit (capacity 70,000 TPA).

"While the value of the hydrocracker contract is Rs 864 crore, the contract for the hydrogen generation unit is valued at Rs 299 crore. The scope for both the packages includes engineering, procurement, construction and commissioning on a single-point responsibility basis," the release added.

Atul Punj, chairman of Punj Lloyd, said: "Punj Lloyd has come a long way since it bid for the mechanical construction of its first hydrocracker project at the Mathura refinery. This IOC contract will give Punj Lloyd the opportunity to exhibit its expertise as both the projects are complex in nature in terms of technicality involved and in terms of execution."

The order backlog for the group now stands at Rs 12,590 crore, the release added.