Punj Lloyd Group, a specialist in Engineering, Procurement and Construction (EPC) services, has acquired a strategic 74% stake in Technodyne International Limited, Eastleigh, UK for an undisclosed amount.

Technodyne is a specialist engineering, design and consultancy company specializing in large scale cryogenic and high pressure tanks. With projects executed 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 & terminal business. Punj Lloyd, which has been the only company to be involved in all three LNG terminals – Dahej, Dabhol and Hazira in India, has also completed the cryogenic storage tank package at the Reliance Jamnagar refinery, among other notable tankage projects in South Asia, Asia Pacific and the Middle East successfully in the past.

The acquired capabilities enable the 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.

Sourced From: Genesis Burson-Marsteller

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