Punj Lloyd gets Rs 469 crore contract from ONGC

Moneycontrol Bureau

Engineering and construction company Punj Lloyd has received a project worth Rs 469 crore from ONGC in the Bombay High region off Mumbai. The scope of work for the project includes designing, engineering, procurement, fabrication, installation of 122 km of submarine pipeline and modification on existing facilities among others, Punj Lloyd said on Monday. The project is scheduled for commissioning in May 2013, it said. Following this contract, Punj Lloyd now has an order backlog of Rs 27,178 crore on a consolidated basis. Punj Lloyd had earlier executed the Uran Trombay gas pipeline and the Uran Trombay Jawahardweep pipeline, among other projects for ONGC. Punj Lloyd shares surged post the announcement, and at 11:45 hrs were traded up over 5% at 49.25 on NSE