Punj Lloyd acquires 74 per cent stake in UK's Technodyne International

New Delhi:  Engineering, procurement and construction specialist Punj Lloyd Group has acquired a 74-per cent stake in the UK's engineering design firm Technodyne International Limited, based in Eastleigh, an undisclosed amount.

Technodyne is a specialist engineering, design and consultancy company specialising in large scale cryogenic and high pressure tanks.

With projects across the world, Technodyne carries out the basic design and detailed engineering for complete steel and steel plus concrete tanks including associated piping, instrumentation and electrical systems. Technodyne also has track record in designing of test rigs.

This acquisition is a strategic fit and further strengthens Punj Lloyd's existing tankage and terminal business. Punj Lloyd, which has been the only company to be involved in all three LNG terminals  ---  Dahej, Dabhol and Hazira, has also completed the cryogenic storage tank package at the Reliance Jamnagar refinery.

The acquired capabilities enable the Punj Lloyd Group to provide end-to-end solutions for complete delivery of complex cryogenic, high pressure LNG, LPG, ethylene, ammonia and other similar storage tanks, a significant growth area in Oil & Gas sector. The capabilities will also be leveraged for design of refinery and petrochemical projects.

The Group has three companies Punj Lloyd Limited, Sembawang Engineers & Constructors, Simon Carves and is known for its management skills that deliver 'on-time' project performance.