Punj Lloyd jumps as its arm bags EPC contract worth Rs 312 crore

Punj Lloyd is currently trading at Rs. 23.20, up by 0.60 points or 2.65% from its previous closing of Rs. 22.60 on the BSE.

The scrip opened at Rs. 22.95 and has touched a high and low of Rs. 23.70 and Rs. 22.70 respectively. So far 894708 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 28.30 on 15-Sep-2016 and a 52 week low of Rs. 16.90 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 23.70 and Rs. 21.10 respectively. The current market cap of the company is Rs. 775.40 crore.

The promoters holding in the company stood at 35.91%, while Institutions and Non-Institutions held 8.45% and 55.64% respectively.

Global EPC conglomerate, Punj Lloyd has bagged an EPC contract worth Rs 312 crore on LSTK basis in Yanbu, Saudi Arabia. The ‘Clean Fuels Interfacing Facilities Project’ was awarded to the company’s subsidiary, Dayim Punj Lloyd, by the Yanbu Aramco Sinopec Refining Company (YASREF).

The project objective is to interface YASREF with the Aramco Yanbu Refinery to supply low sulphur clean transportation fuel - diesel and gasoline - for domestic distribution. In addition, the pipeline system will also contain provision to transport YASREF refined products to the western regional pipeline hub.

To achieve this objective, Dayim Punj Lloyd’s scope of work includes; Two new pipeline systems, 30” x 7 km each, for diesel and gasoline - to be installed to deliver YASREF refined products to Yanbu Refinery (YR) for domestic distribution; A dedicated custody metering system for each refined product; A new analyzer to be installed inside Yanbu Refinery; A new Red / Green dye injection for gasoline to be installed in the Yanbu Refinery premises within the new line from YASREF to Yanbu Refinery's gasoline tanks; Modification of three existing kerosene tanks inside Yanbu Refinery by installation of internal floating roofs in order to adequately receive YASREF gasoline; and Extension of existing SIH Control to house the DCS/ PLC panels and to be equipped with HVAC. Associated civil & structural, firefighting, E&I work and automation work are also to be carried out under this scope.

Punj Lloyd is a diversified international conglomerate offering EPC services in Energy and Infrastructure along with engineering and manufacturing capabilities in the Defence sector.