Indian firm wins US $1.2bn Libya contract

Punj expects to complete all of the projects in the deal by 2012.

Indian engineer Punj Lloyd Ltd has announced that one of its units, Sembawang Engineers & Constructors, has won three projects worth US $1.2 billion (59 billion rupees) for the construction of commercial and residential properties in Libya.

According to an e-mailed statement today, as cited by Bloomberg, the Punj unit was awarded the contracts from International Investment and Services Co.

The contract involves the construction of a luxury resort near Tripoli airport which is expected to be completed by 2012. Other orders include building a residential apartment project and a hotel that is due to be finalised by 2011.

Gurgaon-based Punj has total orders worth $6.2 billion as of March 31.

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