Punj Lloyd, engaged into engineering, procurement and construction (EPC), has secured an EPC highway contract worth Rs 6.66 billion from Ministry of Road Transport & Highways (MoRT&H). The contract if for 90.586 km of the Asian Highway (AH) Network, a cooperative project for improving transport facilities throughout 32 nations and providing road links to Europe.
The scope of work comprises rehabilitation and upgrading to 2/4- Lane of Bhutan border at Pasakha to Bangladesh border at Changrabandha comprising Jaigaon, Hasimara, Dhupguri section and Mainaguri- Changrabandha section. This contract includes the proposed Pasakha access road to length 6.558 km, bypass to Jaigaon and Hasimara in the state of West Bengal.
Speaking on this win, J P Chalasani, MD & CEO said, ''We are proud to be a partner in this cooperative project. Besides creating high infrastructure, this development will reduce travel time and more importantly improve safety levels for travellers as it will be built to world-class specification.''
The access road at Pasakha, an industrial area in Bhutan, will encourage trade and tourism between the countries - India and Bhutan while the Hasimara bypass will decrease the congestion in the city.
With this new order, the Group's order backlog stands at Rs 240.21 billion. The order backlog is the value of unexecuted orders on Sept. 30, 2014 plus new orders received after that date.
Shares of the company gained Rs 2.15, or 5.62%, to trade at Rs 40.40. The total volume of shares traded was 345,280 at the BSE (9.33 a.m., Tuesday).