Punj Lloyd bags Rs 2,070-crore oil, gas pipeline orders in Oman

Punj Lloyd, the diversified engineering, procurement, and construction conglomerate, on Tuesday announced that it has bagged oil and gas EPC orders worth Rs 2,070 crore in Oman.

"Punj Lloyd... today announced winning oil and gas engineering, procurement and construction (EPC) orders worth Rs 2,070 crore from Oman Oil Refineries and Petroleum Industries Company (Orpic) and Oman Gas Company (OGC), which was owned by the government of the Sultanate of Oman, and Oman Oil Company SAOC," the company said in a filing to BSE.

The scope of work includes construction of natural gas liquid and gas pipeline and construction of block valve and pigging stations, the filing added.

"The pipeline, part of Orpic's $6.4 billion Liwa Plastic Industries Complex (LPIC), will travel from the New Fahud NGL plant to the steam cracker unit of Sohar in Oman," it said. Both the pipelines need to be completed in 38 months and 35 months, respectively.

Punj Lloyd President and CEO, pipeline and tankage Atul Jain said, "We feel proud as we are selected due to the strength of our technical and financial bids."

The group's order backlog stands at Rs 25,400 crore. This refers to the value of unexecuted orders as on December 31, 2015, plus new ones received after that date.  

At 1506 hours, the shares of Punj Lloyd were trading up 1.57% or Rs 0.35 at Rs 22.65 per scrip on the BSE.