Punj Lloyd arm PL Engineering sells UK subsidiary to Mitsui Group company

PL Engineering Ltd, a subsidiary of Punj Lloyd Ltd, has sold the entire stake in its wholly-owned UK-based subsidiary, Simon Carves Engineering Ltd, to Engineers and Constructors International Inc for $ 2 million.
 
Simon Carves Engineering recorded a turnover of Rs 76.24 crore and accounted for 1.73 percent of Punj Lloyd's total income in the last financial year.
 
The Louisiana (USA) based Engineers and Constructors International is a design and engineering company belonging to Japan's Mitsui Group.