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Punj Lloyd secures Rs 649-crore order from IOC

Punj Lloyd has secured Rs 649-crore contract from Indian Oil Corporation (IOC) for construction works at the oil major's Barauni Refinery in Bihar.
Punj Lloyd will upgrade the refinery to improve quality of motor spirit (gasoline) to meet Euro-III emission norms for reducing vehicular pollution. The project is scheduled to be commissioned within 23 months, a statement by the company said.
This is the fifth engineering, procurement and construction (EPC) contract from Indian Oil to Punj Lloyd and the second motor spirit quality up-gradation project given by the state-run oil marketing company to Punj Lloyd.
The EPC firm yesterday informed the stock exchanges that it had signed an agreement with Singapore Technologies Kinetics (ST Kinetics) for the manufacture of defence equipment for India.
Earlier, Punj Lloyd had been issued a license by the government for manufacturing guns, rockets and missile artillery systems and other defence related equipment.
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