December 23, 2024 05:09 am (IST)
Punj Lloyd gets Rs 3254 cr buildings project
New Delhi, Apr 15 (IBNS): Diversified global conglomerate Punj Lloyd has signed a contract worth USD 540 million (Rs. 3,254 crores) for a buildings and infrastructure project with the Housing & Infrastructure Board (HIB) in Libya.
Punj Lloyd’s scope comprises the infrastructure work for the city of Zliten, spanning across an area of over 2400 hectares in the Misuratah region.
It is located 100 km east of Tripoli in the capital of Libya.
The work involves designing and construction of the storm and sewer network; water network, telecommunication and power distribution network, natural gas network, street lighting and road network including traffic management system, landscaping and streetscaping including parks and green areas.
According to Pardeep Tandon, President & CEO, Buildings & Infrastructure, “It is an excellent opportunity for the Group to showcase its infrastructure capabilities in the free Libyan economy. The project was won amidst tough global competition.”
This repeat order by HIB post the Libyan unrest is a reflection of Punj Lloyd’s execution capabilities in infrastructure.
Punj Lloyd is already delivering infrastructure projects for the Housing & Infrastructure Board (HIB) in major townships of Arada, Souk Al Juma, Zawara, Ragdaleen, and Al Jamail. The projects comprise engineering, procurement, construction and the commissioning of utilities including water, sewage, storm water main and branch lines, roads and other facilities.
All projects in Libya have been reactivated and work is ongoing, the company said in a statement.
With this new order, the Group’s order backlog stands at Rs. 22,106 crores. The order backlog is the value of unexecuted orders on Dec 31, 2013 plus new orders received after that date.
According to Pardeep Tandon, President & CEO, Buildings & Infrastructure, “It is an excellent opportunity for the Group to showcase its infrastructure capabilities in the free Libyan economy. The project was won amidst tough global competition.”
This repeat order by HIB post the Libyan unrest is a reflection of Punj Lloyd’s execution capabilities in infrastructure.
Punj Lloyd is already delivering infrastructure projects for the Housing & Infrastructure Board (HIB) in major townships of Arada, Souk Al Juma, Zawara, Ragdaleen, and Al Jamail. The projects comprise engineering, procurement, construction and the commissioning of utilities including water, sewage, storm water main and branch lines, roads and other facilities.
All projects in Libya have been reactivated and work is ongoing, the company said in a statement.
With this new order, the Group’s order backlog stands at Rs. 22,106 crores. The order backlog is the value of unexecuted orders on Dec 31, 2013 plus new orders received after that date.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
India's foreign exchange falls to a six-month low of $652.87 billion
Fri, Dec 20 2024
CCI approves UltraTech Cement’s acquisition of India Cements
Fri, Dec 20 2024
Rupee hits record low before recovering; RBI intervention limits volatility amid challenges
Fri, Dec 20 2024
Tata Power Renewable Energy Limited partners with Canara Bank to promote PM Surya Ghar Scheme
Fri, Dec 20 2024
India’s EV market to hit Rs 20 trillion by 2030, 50 million jobs projected, says Nitin Gadkari
Fri, Dec 20 2024
Nirmala Sitharaman to hold pre-Budget consultations with finance ministers of states
Thu, Dec 19 2024
NTPC to set up nuclear power project in Bihar
Thu, Dec 19 2024