Punj Lloyd bags Rs 477 cr tankage order

Engineering and construction giant Punj Lloyd today said it has bagged Rs 477 crore (USD 75 million) new tankage order from Japan-based Mitsubishi Heavy Industries, taking its order backlog to Rs 22,171 crore.
"The scope of work entails confirmatory geotechnical investigation, early earth works, construction of two...LNG tanks on elevated piled foundation of LNG import, storage and re-gasification terminal project of Indian Oil Corporation at Ennore Port in Tamil Nadu," Punj Lloyd said in a statement.
The engineering, procurement and construction (EPC) company further said that once completed, the LNG imported to the Ennore Terminal will be used by utility company power generation plants as an alternative fuel and as feedstock by fertiliser plants.

To be completed in 33 months, the project timelines are extremely challenging, the company said.
However, the expertise of the company in tanks and terminals, especially cryogenic tanks is well established, making Punj Lloyd extremely placed to deliver this project, it said.
The company has constructed the LPG Import-Export terminal at Ennore for its client, IndianOil-Petronas, it said.

The four LNG terminals of the country include Dahej, Hazira and Dabhol.
"Punj Lloyd is proud to be India's first LNG tank constructor for both the Western and Eastern Coasts, having played a critical role in building India's LNG infrastructure," Atul Jain, President and CEO, Pipeline and Tankage, Punj Lloyd said.

With this win, Punj Lloyd Group's order backlog reaches Rs 22,171 crore, the company said adding that the order backlog is the value of unexecuted orders on March 31, 2015 plus new orders received after the date.