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( As on 18/11/2014 11:19)

Punj Lloyd bags highway contract worth Rs 666cr

Diversified conglomerate, Punj Lloyd today said that it has bagged an EPC highway contract worth Rs 666 crore from the Ministry of Road Transport & Highways (MoRT&H) for 90.586 km of the Asian Highway Networks.

“The scope of work comprises rehabilitation and upgrading to 2/4-lane of Bhutan border at Pasakha to Bangladesh border at Changrabandhra comprising Jaigaon, Hasimara, Dhupguri section and Mainaguri-Changrabandhra section. This contract includes the proposed Pasakha access road of length 6.558 km, bypass to Jaigaon and Hasimara in the state of West Bengal," the company said in a filing to stock exchanges.

The project is scheduled for completion in 30 months.

Commenting on the development, Punj Lloyd, MD and CEO, JP Chalasani said, “We are proud to be a partner in this co-operative project. Besides creating high quality infrastructure, this development will reduce travel time and more importantly improve safety levels for travelers as it will be built to world class specification.”

Meanwhile, shares of the company were trading at Rs 40.25 a piece, up 5.23 per cent on BSE at 11:18 hours.