i Develop Stocks Advisory

Punj Lloyd-led consortium bags $500 m project in Malaysia A consortium led by engineering construction company Punj Lloyd has bagged a nearly $500 million (about Rs 2,000 crore) Sabah Sarawak Gas Pipeline project in Malaysia. In a filing to the BSE, Punj Lloyd said that the project was awarded by Petronas Carigali Sdn Bhd, a subsidiary of Petronas, the state oil and gas major in Malaysia. The scope of work involves engineering, procurement, construction and commissioning of an onshore natural gas pipeline from the proposed Sabah Oil and Gas Terminal in Kimanis, Sabah to Petronas Liquefied Natural Gas complex in Bintulu, Sarawak State and associated facilities. Shares of the company closed at Rs 304.15, down 7.06 per cent on the BSE. - PTI