Punj Lloyd JV bags US$300mn Saudi Aramco order: report

The stock was trading at Rs185.45 on the Bombay Stock Exchange (BSE) at 1:51 pm

Dayim Punj Llyod, a JV between the Punj Lloyd and His royal Highness Prince Khalid Bin Bandar Bin Sultan (KBS), Kingdom of Saudi Arabia, announced winning a contract worth Rs12.10bn (US$246.8mn) for engineering, procurement and construction of port tank farm of the Jubail Export Refinery Project in Saudi Arabia. Awarded by Saudi Aramco total Refinery & Petrochemical Company (SATORP), a joint venture between Saudi Arabian Oil Company (Saudi Aramco) and TOTAL of France, the port tank farm project forms an important link of the refinery which will process 400,00 BPD of Arabian Heavy Crude Oil to produce gasoline, diesel, jet fuel, petroleum coke, fuel oil, liquid sulphur and aromatic products for export, domestic consumption or further processing.

The refinery is located in the 2nd Jubail Industrial City, 3 km west of the first industrial city in the eastern part of Kingdom of Saudi Arabia. The stock was trading at Rs185.45 on the Bombay Stock Exchange (BSE) at 1:51 pm. It is down 12% in the last one month.

Separately, global media reports said that Saudi Aramco and France’s Total have signed 13 agreements with contractors to build a US$9.6bn joint venture refinery in the Gulf kingdom. The two awarded the contracts for the 400,000 barrels per day (bpd) refinery last month.

source: Indiainfoline

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