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Punj Lloyd JV Limak bags project worth Rs 2,780 crore in Turkey

Engineering Procurement Construction giant Punj Lloyd recently said that its joint venture with Limak has won a gas pipeline project worth Rs 2,780 crore from TANAP Dogalgaz Iletim AS in Turkey. The company confirmed in its regulatory filing that its 50:50 joint venture (JV) with Limak has bagged the project.

Punj Lloyd President and CEO, Pipeline and Tankage, Atul Jain said: “This is the second project for Punj Lloyd-Limak JV in Turkey… We are the only Indian company to win the pipeline TANAP order… I am confident of executing this in the given timeframe of 35 months.”

Punj Lloyd said its share in the order amounts to Rs 1,390 crore (USD 204 million).

TANAP, short for The Trans Anatolian Natural Gas Pipeline Project, will be built to transport natural gas starting from the South Caucasus Pipeline Company pipeline in Georgia and terminating from the Trans-Adriatic Pipeline (TAP) in Greece.

The company added that with this project, its total order backlog stands at Rs 23,228 crore.

 

Punj Lloyd stock price

On January 29, 2016, at 15:40 hrs Punj Lloyd was quoting at Rs 25.65, up Rs 0.05, or 0.20 percent. The 52-week high of the share was Rs 40.75 and the 52-week low was Rs 20.75. The latest book value of the company is Rs 96.43 per share. At current value, the price-to-book value of the company was 0.27.