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Punj Lloyd Ltd arm receives contract worth Rs. 312 crores

Posted On: 2017-04-17 19:23:36

Dayim Punj Lloyd Construction Contracting Company Ltd. ('DPLL'), a subsidiary of Punj Lloyd Ltd has been awarded an EPC contract - 'Clean Fuels Interfacing Facilities Project' on LSTK basis in Yanbu, Saudi Arabia worth INR 312 crore by the Yanbu Aramco Sinopec Refining Company Limited (YASREF) in Saudi Arabia.

The project objective is to interface YASREF with the Aramco Yanbu Refinery to supply low sulphur clean transportation fuel - diesel and gasoline - for domestic distribution. In addition, the pipeline system will also contain provision to transport YASREF refined products to the western regional pipeline hub. To achieve this objective, Dayim Punj Lloyd's scope of work includes:

i. Two new pipeline systems, 30" x 7 km each, for diesel and gasoline - to be installed to deliver YASREF refined products to Yanbu Refinery (YR) for domestic distribution.

ii. A dedicated custody metering system for each refined product.
iii. A new analyzer to be installed inside Yanbu Refinery.

iv. A new Red / Green dye injection for gasoline to be installed in the Yanbu Refinery premises within the new line from YASREF to Yanbu Refinery's gasoline tanks.

v. Modification of three existing kerosene tanks inside Yanbu Refinery by installation of internal floating roofs in order to adequately receive YASREF gasoline.

vi. Extension of existing SIH Control to house the DCS/ PLC panels and to be equipped with HVAC. Associated civil & structural, firefighting, E&I work and automation work are also to be carried out under this scope.

Speaking on this new opportunity, Punj Lloyd Director, Atul Jain said, "This is the third contract by YASREF to Dayim Punj Lloyd which is reflective of the strong partnership that has been formed between YASREF and Punj Lloyd, focusing on quality, safety and successful delivery of projects."

Prior to this contract, Punj Lloyd had successfully completed the Offsite Pipeline Package and is due to complete the pipeline relocation.

With this order, the Group's order backlog stands at INR 19,929 crores. The order backlog is the value of unexecuted orders on December 31, 2016 plus new orders received after that date.

Shares of PUNJ LLOYD LTD. was last trading in BSE at Rs.23.15 as compared to the previous close of Rs. 22.6. The total number of shares traded during the day was 1310646 in over 2631 trades.

The stock hit an intraday high of Rs. 23.7 and intraday low of 22.7. The net turnover during the day was Rs. 30388969.


Source: Equity Bulls

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