Punj Lloyd, engaged into engineering, procurement and construction (EPC), announced on Tuesday that the company has received a letter of award for expansion and revamping of Ahmadi Depot, Kuwait from Kuwait National Petroleum Company (KNPC) worth Rs 14.18 billion (USD 236.09 million).

This order is scheduled for completion in 35 months. Kuwait is the latest addition to Punj Lloyd's geographical presence, bringing its global operations to 24 countries.

Shares of the company gained Rs 2.40, or 4.70%, to trade at Rs 53.50 at the BSE (12.50 p.m., Tuesday).