New Delhi, July 10 (Inditop.com) Engineering and construction conglomerate Punj Lloyd Friday said it has bagged three projects in Libya worth Rs.5,904 crore ($1.2 billion) for building commercial and residential complexes.
The contracts were awarded to Sembawang Engineers and Constructors – a wholly-owned Punj Lloyd subsidiary in Tripoli, Libya – by the International Investment and Services Co, the company said in a regulatory statement.
Under the contract, Sembawang will build a resort village, a residential township and a five-star hotel.
“We are delighted that Sembawang will establish a significant presence in Libya with three major projects reinforcing our strategy to expand in overseas markets like north Africa, which have robust growth opportunities,” said Punj Lloyd chairman Atul Punj.
With these orders, the order backlog of the group on a consolidated basis has gone up to Rs.30,436.35 crore, the statement said.
