Punj Lloyd completes acquisition of Sembcorp

New Delhi, Oct 19: Punj Lloyd Ltd today said it has acquired the remaining 12 per cent stake in Singapore-based Sembcorp Engineers&Constructors and the latter has now become a wholly-owned subsidiary of the company.

Sembcorp Engineers, acquired through the company's Singapore-based wholly-owned susidiary Punj Lloyd Pte Ltd, will now be known as Sembawang Engineers&Constructors (SEC), a company statement said.

The engineering and construction major acquired the majority stake of 88 per cent in SembCorp for 352 million Singapore dollars in June, to expand its geographical reach and portfolio enhancement.

With this acquisition, the company will add airports, jetties, MRT/LRT, tunneling, sewerage among others, to its capabilities in infrastructure domain.

UNI