Infrastructure firm Punj Lloyd on Tuesday announced the company has won projects worth Rs 2,070 crore from Oman.
The scope of work for the company includes construction of a 300-km natural gas liquid (NGL) pipeline and a 301-km gas pipeline. It also includes construction of block valve and pigging stations. The pipeline project is expected to be completed in less than three years, the company said in a regulatory filing with the Bombay Stock Exchange.
"In view of the increased gas demand and to ensure availability of supply, Punj Lloyd will be laying another gas pipeline parallel to the existing Fahud-Sohar pipeline for OGC (Oman Gas Company). The pipeline is being laid to supply gas for North Power station," the company said.
The group's order backlog, which is the value of unexecuted orders on Dec. 31, is currently Rs 25,400 crore, the company said.
"Punj Lloyd was the only Indian contractor in Oman to be awarded a sizeable contract of the LPIC mega complex. Our past experiences of delivering strategic projects in Oman and our prowess in pipelines globally both stand testament to our capabilities," Atul Jain, President and CEO of Punj Lloyd, said in a statement.
The company's third-quarter loss widened to Rs 300 crore from Rs 148 crore reported in the corresponding period ended December 2014. The company's income dipped to Rs 1,013 crore from Rs 1,291 crore, YoY.
The Punj Lloyd stock on Tuesday closed at Rs 22.40, up 0.45 percent from its previous close.
[1 lakh = 100,000 | 1 crore = 10 million | 100 crore = 1 billion]
