Punj Lloyd Eyes $1 billion Indian Army Artillery Contracts
Dated 21/4/2008
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Engineering and construction company Punj Lloyd Ltd is eyeing a big push in picking up defence contracts, including two orders from the Indian Army having a total value of around $1 billion (Rs4,000 crore), as the company pursues the so-called offset contracts arising from sale of armaments by foreign vendors.
In addition, the company is planning to leverage its stake in Pipavav Shipyard Ltd to do fabrication of frigates and refurbishing of the Indian Navy