Punj Lloyd receives FIPB's approval for manufacturing defence items

19 Dec 2014

Punj Lloyd has received Foreign Investment Promotion Board’s (FIPB) approval for manufacture of defence items. FIPB, Department of Economic Affairs, Ministry of Finance, Government of India have approved the proposal of the company for manufacturing of equipment systems and associated assemblies for the defence sector.

Besides, foreign equity participation in the company including FDI & Investment by FII/FPI/FVCI/QFI/NRI through portfolio investment has been capped at 32.99% of the paid-up equity capital of the company.

Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.  

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