Punj Lloyd Group pockets Rs 5,904 crore projects in Libya

Submitted by stockwatch on Sat, 07/11/2009 - 04:50

Punj Lloyd Group pockets Rs 5,904 crore projects in LibyaPunj Lloyd has announced that its wholly-owned subsidiary named Sembawang Engineers and Constructors, has secured three orders in Libya worth Rs 5,904 crore for developing commercial and residential projects in the African country.

The sources said that Investment and Services Company has awarded the contracts to Sembawang Engineers and Constructors.

The first contract, which is a turnkey project, has been awarded to set up Al-Mea&apostega resort village on a 40-hectare site on the Mediterranean Coast in Tripoli.

The second project has been bagged by the company for building Al-Ghiran Village in Tripoli  with a total built-up arena of 110,000 square metres.

The third project is for the construction of a 150-room five-star hotel.

The sources said that Al-Mea&apostega Resort Village is slated to be finalized in fiscal 2012, while Al-Ghiran Village and the hotel are scheduled for completion in fiscal 2011.

Punj Lloyd authorities stated in a communiqué that the company is looking forward to more projects in Great Socialist People&aposs Libyan Arab Jamahiriyah, which has one of the highest per capita GDP in Africa.

With securing these orders, the order backlog of the Group has gone up to Rs 30,436.35 crore.


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