Construction and engineering company Punj Lloyd said it won a contract worth Rs539 crore from state-owned gas utility GAIL India for laying a natural gas pipeline from Dabhol to Bangalore.
Punj Lloyd will be laying seven spreads (sections) comprising 820 km of the pipeline, the company said in a statement. The complete work of the pipeline from Dabhol to Bidadi and two additional spur lines (Gokak-Goa and Bechanhalli-Bangalore) has a total of ten spreads. The project will be executed over a period of 13 months, Punj Lloyd said in a release.
On Friday, Punj Lloyd shares fell 2.9% to Rs132 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.3% to 20,250 points.
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