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Punj Lloyd: Looking up
Feb 22: No other company was hit harder by the vagaries of the oil and gas industry than Punj Lloyd.
8Soon after a big contact with ONGC turned toxic, the company was hit by the oil price crisis. As a result red ink was spilled all over its balance sheet.
8The company however is fighting back and customers are reposing trust on both its boss Atul Punj and his company.
8Two recent contracts and lower losses are bringing about the change.
The contracts are from:
8Adani for EPCC (design, engineering, construction and commissioning) of refrigerated double wall storage tanks and mounded bullets for its LPG Terminal at Mundra for Rs 138 crore
8Mumbai Port Trust (MbPT) for Installation of offshore / onshore pipeline and terminal work for the ‘Fifth Oil (J5) Berth’ at Jawahar Dweep in Mumbai Harbour for a contract value of Rs 209 crores.
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