Punj Lloyd and Limak Holding won pipeline construction contract worth Rs 2,780 crore in Turkey
India –based Punj Lloyd collaboratively won a pipeline contract with Turkey-based Limak Holding in latter’s home turf, worth Rs 2,780 crore, out of which Punj Lloyd’s share will be Rs 1,390 crore.
The joint ventures between Punj Lloyd and Limak Holding will be constructing a section of Trans-Anatolian Natural Gas Pipeline (TANAP), which will expand from Greek border to Eskişehir.
The President and CEO of Pipelines and Tankage at Punj Lloyd, Atul Jain said, “This will start reflecting in the company’s balance sheet this year.”
Atul Jain additionally told the concerned media authorities that the pipeline has a total length of 1850 km and Punj Lloyd will be working on 459 km with Limak Holding. The order book of the company stands at Rs 23, 000 crore and 40% of it comes from tankage.
The official statement of TANAP says, “An agreement was signed between the consortium of Punj Lloyd and Limak Holding as a result of the evaluation of the pipeline project’s tender bids in which 11 qualified domestic and foreign companies competed. The 459-kilometer pipeline with a 48-inch diameter will begin in Eskişehir and end in Edirne’s İpsala province on the Greek border, passing through Bilecik, Kütahya, Bursa, Balıkesir, Çanakkale and Tekirdağ.”
The current book value of Punj Lloyd is Rs 96.43 per share and the price-to-book value of the same was observed 0.26 on January 28, 2016. The shares of Punj Lloyd increased by 5.82% and making the per share value Rs 25.45. The 52-week high and 52-week low of Punj Lloyd’s share were Rs 40.75 and Rs 20.75 respectively.