Mumbai: Global EPC major Punj Lloyd on Tuesday said it has bagged a contract worth Rs 1,418 crore from Kuwait National Petroleum Company for expansion and revamping of Ahmadi Depot in Kuwait.
The company has received a 'Letter of Award' from the company and the project is expected to be completed in 35 months, a release issued here stated.
The scope of the Rs 1,418 crore or USD 236.09 million contract includes design, detailed engineering, procurement, construction and commissioning of 11 new floating roof product tanks with a capacity of around 2,28,000 cubic meters.
"The recent cache of new contracts received globally, underlines our international clients' confidence in Punj Lloyd. The first quarter has seen a good increase in our order book. As India's infrastructure opens up, we hope to see equal success in securing projects in the country," its Managing Director & Group CEO JP Chalasani said.
Kuwait is the latest addition to Punj Lloyd's geographical presence, bringing its global operations to 24 countries, the release said.
With this new order, the group's order backlog stands at Rs 22,063 crore.
