Infrastructure Company Punj Lloyd has declared that it has clinched a contract for mechanical works from Tecnicas Reunidas of Spain worth $108 million or Rs 462 Crore. Punj Lloyd mentioned in a filing to the Bombay Stock Exchange that it has received this order on two off-sites and utilities project of UAE-based Abu Dhabi Polymers Company. The range of work under this project is mechanical in areas such as steel, piping fabrication and equipment erection.     

Abu Dhabi Polymers Co happens to be a joint venture between Abu Dhabi National Oil Co and Vienna-based Borealis. It inked a deal with Tecnicas Reunidas SA of Spain to set up off-site and utility facilities. It got an order from Tecnimont SpA of Italy on March 31 for polyolefins project of Abu Dhabi Polymers Company. This had good fallout on the shares of the company as it soared as high as 3.66 per cent to touch an intra-day high of Rs 217.60 on the BSE.  Punj Lloyd was trading at Rs 214.90, up 2.38 per cent on BSE in afternoon trade.