Punj Lloyd bags Rs 1,119-cr project from Singapore firm

MUMBAI: Engineering and construction major Punj Lloyd today said it has bagged Rs 1,119.2 crore construction order from Singapore-based Marina Bay Sands Pte Ltd.

Punj Lloyd's wholly-owned subsidiary company, Sembawang Engineers & Constructors Pts Ltd (Sembawang E&C), was awarded the contract for constructing the north podium of Marina Bay Sands integrated resort, Punj Lloyd said in a filing to the Bombay Stock Exchange.

The north podium comprises of the casino, theatres and retail arcade.

"With immense opportunities in the Engineering, Procurement and Construction (EPC) space and a healthy order book we look forward to achieving higher success with the help of our group companies in the near future," Punj Lloyd Group Chairman Atul Punj said.
   
With this 400 million Singaporean dollar contract, the order backlog for the Punj Lloyd group on consolidated basis has gone up to Rs 17,132 crore. This is the total value of unexecuted orders as of December 31, 2007 and new orders received till date.

Work on this project would start in this month and is expected to be completed by April 2009.
   
Subrange is also constructing the new Downtown Line Bayfront MRT station in Marina Bay that would connect directly to the resort's meetings, incentives, conventions and exhibitions centre.

Shares of Punj Lloyd were trading at Rs 351, up 5.85 per cent on the BSE in morning trade.