Punj Lyoyd JV bags Rs 2,780 crore gas pipeline contract

By: |
January 28, 2016 11:09 AM

Punj Lloyd on Thursday announced that its Joint Venture (JV) with Limak (50:50 share) has won a contract worth Rs 2,780 crore from TANAP Gas Pipeline in Turkey.

punjlloyd-660The contract is awarded to the Punj Llyod JV by TANAP Dogalgaz iletim A.S. The company’s value of the project amounts to Rs 1,390 crore for each company in the JV. (Photo: Screen grab of the company’s website)

Punj Lloyd on Thursday announced that its Joint Venture (JV) with Limak (50:50 share) has won a contract worth Rs 2,780 crore from TANAP Gas Pipeline in Turkey. The contract is awarded to the JV by TANAP Dogalgaz iletim A.S. The company’s value of the project amounts to Rs 1,390 crore for each company in the JV.

In a BSE filing, the company said, “TANAP, The Trans Anatolian Natural Gas Pipeline Project, will be built to transport natural gas emanating from the South Caucasus Pipeline Company (SCPC) pipelines in Georgia and terminating into the Trans Adriatic Pipeline (TAP) in Greece. With this win, the Group’s order backlog stands at Rs 23,228 crore. The order backlog is the value of unexecuted order on September 30, 2015 plus new order received after that date.”

Punj Lloyd’s scope of the present project (Lot 4) is the second phase of construction from the new Eskisehir Compressor station to the tie-in point of the Trans Adriatic Pipeline (TAP). The proposed natural gas pipeline is of 48′ diameter and 459 km in length. The scope also includes 10 Block Valve Stations, Pigging facility (two within Compressor stations, two at pigging stations) and Tie-ins with Metering Stations.

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.

At 10.21 am, shares of Punj Lloyd were trading 7.48 per cent up at Rs 25.85.

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