Punj Lloyd wins Rs 3,515 cr tankage order from Petronas Malaysia

New Delhi: Engineering and construction giant Punj Lloyd today said it has won a Rs 3,515 crore new tankage order from Petronas Malyasia, taking its total orders in 2014-15 to Rs 9,940 crore.

"Punj Lloyd Group...announced winning the mega Rs 3,515 crore RAPID tank farm order from PRPC Refinery and Cracker Sdn Bhd, a subsidiary under the Petroliam Nasional Berhad (Petronas) group, Malaysia's national energy company," the engineering, procurement and construction (EPC) company said in a statement.

The Tank Farm is part of Petronas' refinery and petrochemical integrated development (RAPID) project within a 6,242 acre site in Pengerang, Malaysia.

 Punj Lloyd wins Rs 3,515 cr tankage order from Petronas Malaysia

Representational image. Reuters

"Punj Lloyd is privileged to be part of PIC's critical milestone requirements. Our expertise in tankage is recognised globally with our greatest advantage being our in-house engineering skill and extensive project experience of large scale tank projects," said J P Chalasani, MD and Group CEO, Punj Lloyd.

This is a critical project which will establish new engines of growth for Malaysia in meeting its future energy requirement, the company said.

Punj Lloyd's scope of work in the RAPID Tank Farm Project includes project management, design, engineering, interface with other contractors and third parties, procurement, construction, inspection and testing and pre-construction and commissioning.

The company has earlier laid the 521 km Sabah Sarawak Gas Pipeline, one of the longest pipelines of Malaysia for Petronas Group of Companies in the dense rainforest.

Prior to that, Punj Lloyd has constructed a multi-product pipeline from Melaka Refinery along the West coast of the Malaysian Peninsula to Kuala Lumpur International Airport.

With the latest order, Punj Lloyd group's order backlog reaches Rs 24,679 crore.

Shares of the company surged 10 per cent to touch its highest trading permissible limit for the day after the firm bagged the order from PRPC Refinery and Cracker, a subsidiary under the Petronas group.

Punj Lloyd's scrip soared 9.88 per cent to Rs 40.60 -- its upper circuit limit.

PTI

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Updated Date: Sep 08, 2014 16:00:30 IST