Punj Lloyd rises on bagging contract from ENOC’s arm to build oil terminal

19 Apr 2012

Punj Lloyd is currently trading at Rs. 56.80, up by 0.10 points or 0.18% from its previous closing of Rs. 56.70 on the BSE.

The scrip opened at Rs. 57.50 and has touched a high and low of Rs. 57.50 and Rs. 56.35 respectively. So far 75,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 82.00 on 04-Jul-2011 and a 52 week low of Rs. 37.05 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 58.20 and Rs. 53.50 respectively. The current market cap of the company is Rs. 1885 crore.

The promoters holding in the company stood at 37.20% while Institutions and Non-Institutions held 22.55% and 40.25% respectively.

Punj Lloyd, an India-based construction conglomerate has bagged a contract from Horizon Terminals, a subsidiary of Emirates National Oil Company (ENOC) to build oil terminal. The deal covers the engineering, procurement and construction of a bulk oil terminal inside the Jebel Ali Free Zone along with a 60 kilometre jet fuel pipeline to the Dubai International Airport.

Previously referred to as ‘Project Falcon,’ it will have state of the art oil terminal facilities with storage tanks capacity of 141,000 cubic metres, including a Tanker Truck Loading system connected to the oil tanker berths and associated facilities. The oil terminal will handle a jet fuel system initially and other petroleum products at later stages. The proposed 60 km pipeline running from the Jebel Ali Free Zone to the Dubai International Airport will have a branch off point at the new Dubai World Central (DWC) airport for future expansion.

Established in 1993 as a wholly-owned company of the Government of Dubai, ENOC aims to promote the interests of its shareholders through the development of further downstream and upstream activities in the oil and gas sector and beyond, and to encourage the economic diversification of Dubai and the rest of the UAE.

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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