Punj Lloyd bags order worth Rs 1,288.74 cr from ONGC

Mumbai, Jan 9, (UNI) Construction giant, Punj Lloyd, along with its offshore engineering arm - PT Sempec Indonesia, a wholly-owned subsidiary, has secured its single largest Offshore Platform Project - the prestigious Heera Redevelopment Project on an EPC basis from Oil&Natural Gas Corporation Limited (ONGC).

The order, valued at around US Dollar 290 million (Rs 1,288.74 crore), was won after meeting ONGC's stringent qualification criteria.

In a statement here today, Punj Lloyd Chairman Atul Punj said, ''This order is a major milestone for the company as it catapults Punj Lloyd into the exclusive club of EPC service providers for marine oil&gas production facilities. With this order, the bar has been raised for the Company, as this is its single largest EPC project and a first in the offshore platform business.'' With this, the order backlog for the group is Rs 11,201.74 crore.

This is the total value of unexecuted orders as of September 30, last year and new orders received till date.

UNI