Punj Lloyd bags Rs1,050-crore highway project from GMR
28 December 2011
Engineering and construction major Punj Lloyd has bagged a Rs1,050-crore order from GMR Projects for upgrading the four-lane Chittorgarh-Udaipur bypass in Rajasthan into a six-lane highway.
In a filing with the Bombay Stock Exchange, Punj Lloyd Ltd said it has received a letter of intent from GMR Projects Private Limited for undertaking design, engineering, procurement and construction of 124 km of six lane of Chittorgarh bypass to Udaipur.
The highway project, worth Rs1,050 crore, is scheduled for commissioning in 36 months and has been awarded on a turnkey fixed EPC price basis. The scope of work includes design and construction, the company said in its filing.
The project forms part of Phase V of the National Highways Development Programme of the NHAI for upgrading the existing four-lane section to six-lane.
''Punj Lloyd is one of the largest EPC companies in India. Our high quality construction and efficient management is demonstrated by the many highways we have built around the world, of which, India's Golden Quadrilateral, and East West corridor, clearly stand out. This EPC project from GMR is a testimony to our experience and expertise of completion of projects of national significance,'' said S S Raju, CEO (Infrastructure) of Punj Lloyd Ltd, India.
Punj Lloyd is currently executing another EPC order for GMR Hyderabad Vijayawada Expressways Private Limited for NHAI. The group has successfully executed many NHAI projects in Rajasthan, the famous Jaipur bypass and four-laning and strengthening of 65 km of NH-76 with rigid/flexible pavement, to name a few.
With this contract, the order book of the Punj Lloyd Group since 30 September 2011 has gone up to Rs28,725 crore.