Business Daily from THE HINDU group of publications
Saturday, Jul 11, 2009
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Business Daily from THE HINDU group of publications Saturday, Jul 11, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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New Business Punj Lloyd arm bags Libyan orders for Rs 5,904 cr Our Bureau Mumbai, July 10 Punj Lloyd’s wholly owned subsidiary Sembawang Engineers and Constructors (Sembawang) has bagged three orders totalling Rs 5,904 crore in Libya. The orders were awarded to Sembawang’s subsidiary in Tripoli, Sembawang Libya General Contracting and Investment Company by the International Investment and Services Company (IISCO). IISCO is an arm of the Government-linked company, the Economic Social Development Fund of Libyan Great Jamahiriya. Punj Lloyd said the first contract was to develop Al-Mea’tega resort village on 40 hectares on the Mediterranean Coast, adjacent to the domestic airport in Tripoli. The second was construction work at the Al-Ghiran village in Tripoli. The village will have 17 four-storeyed high-end residential apartment blocks, besides a 120-room four-star hotel and 600-seater conference hall. The third order is for building the Al-Froseya hotel. The company said the Al-Mea’tega village was scheduled for completion in 2012 and the Al-Ghiran village and hotel by 2011. Mr Atul Punj, Chairman, Punj Lloyd Group, said, “Libya has excellent prospects as it is undergoing brisk economic growth and the country is currently in the midst of executing a vast national plan for infrastructure and public works development.” Punj Lloyd venture bags Rs 1,210-cr order Punj Lloyd bags Libyan contracts More Stories on : New Business | Engineering
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