Punj Lloyd bags Rs 330cr contract in Karnataka
Punj Lloyd today said it has won a Rs 330-crore order for setting up process facilities and utilities at an upcoming crude oil storage cavern in Mangalore from Indian Strategic Petroleum Reserves Ltd.
July 27, 2011 / 18:34 IST
Punj Lloyd today said it has won a Rs 330-crore order for setting up process facilities and utilities at an upcoming crude oil storage cavern in Mangalore from Indian Strategic Petroleum Reserves Ltd (ISPRL).
"Worth Rs 330 crore, this is the first cavern project for the Group and has been awarded by Indian Strategic Petroleum Reserves Limited (ISPRL), a wholly owned subsidiary of Oil Industry Development Board, Ministry of Petroleum and Natural Gas," the infrastructure firm said in a statement.The scope of work for the project involves engineering, procurement, construction and commissioning of systems for crude oil receipt, pumping out, metering, recirculation, heating, waste water treatment, utilities production, flaring and operation buildings, it said.The project, located near Mangalore Refinery and Petrochemicals Ltd, is scheduled to be completed within a period of 29 months.The Mangalore crude oil storage will comprise two separate but identical underground caverns, each approximately 900 metres long, having a total capacity of 1.5 million tonne (MT) of crude oil.The Ministry of Petroleum and Natural Gas plans to store 5.33 million tonnes of imported crude oil in these crude reserves, based on a 15-day crude oil requirement of all the refineries in the country.The crude oil reserve near Mangalore will cater to the requirements of refineries of Mangalore Refineries & Petrochemicals Ltd (MRPL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL).With this contract, the order backlog for the Punj Lloyd Group on a consolidated basis has gone up to Rs 25,739 crore. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
