Punj Lloyd JV firm Limak wins Rs 2,780-crore Turkey pipeline order

Engineering and construction major Punj Lloyd today said its joint venture (JV) firm Limak has bagged orders worth Rs 2,780 crore from TANAP Dogalgaz Iletim AS in Turkey.

In a regulatory filing, Punj Lloyd said its 50:50 JV with Limak has won the 459-km TANAP gas pipeline project worth Rs 2,780 crore in Turkey.

Punj Lloyd said its share in the order amounts to Rs 1,390 crore ($204 million).

TANAP, short for The Trans-Anatolian Natural Gas Pipeline Project, will be built to transport natural gas starting from the South Caucasus Pipeline Company pipeline in Georgia and terminating from the Trans-Adriatic Pipeline in Greece.

Punj Lloyd President and CEO, Pipeline and Tankage, Atul Jain said: "This is the second project for Punj Lloyd-Limak JV in Turkey... We are the only Indian company to win the pipeline TANAP order... I am confident of executing this in the given timeframe of 35 months."

The company added that with this project, its total order backlog stands at Rs 23,228 crore.

Punj Lloyd was trading at Rs 25.60, up 6.44 per cent, on BSE.