08-09-2014

Punj Lloyd wins tank farm contract for PETRONAS RAPID project

Punj Lloyd Group, the global, diversified EPC giant today announced winning the mega Rs 3,515 crore (USD581 million) RAPID Tank Farm order from PRPC Refinery and Cracker Sdn. Bhd.; a subsidiary under the Petroliam Nasional  Berhad (PETRONAS) group, Malaysia’s national energy company. 

The Tank Farm is part of PETRONAS’ Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, Malaysia. Developed within a 6,242-acre site, RAPID is part of the colossal PETRONAS Pengerang Integrated Complex (PIC) development, along with RAPID’s associated facilities including the Pengerang Co-generation Plant (PCP), Re- gasification Terminal 2 (RGT2), Air Separation Unit (ASU), Raw Water Supply Project (PAMER), Crude and Product Tanks (SPV2) and central and shared Utilities and Facilities (UF). 

Punj Lloyd’s scope of work in the RAPID Tank Farm project includes Project Management, Design, Engineering, Interface with other Contractors and third parties, Procurement, Construction, Inspection and Testing, Pre-Commissioning and Commissioning. The RAPID Tank Farm will be a critical project requiring expertise in the construction of different types of  tanks including storage tanks, LPG tanks, mounded bullets, Light Cracked Naphtha storage, transfer pumps and additive packages.

“Punj Lloyd is privileged to be part of PIC’s critical milestone requirements. Our expertise in tankage is recognised globally with our greatest advantage being our in-house engineering skill and extensive project experience of large scale tank projects,” stated J.P. Chalasani, Managing Director and Group CEO, Punj Lloyd. 

PIC forms part of the Johor State’s Pengerang Integrated Petroleum Complex (PIPC), which is under Malaysia’s Economic Transformation Programme (ETP) to establish new engines of growth for Malaysia; whilst meeting future energy requirement and strengthening PETRONAS’ position as a key player in the Asian chemicals market, focusing on differentiated and specialty chemicals. PIC will involve an estimated investment of US$27  billion and is poised for its refinery start-up by early 2019. 

With this win, Punj Lloyd Group’s order backlog reaches Rs. 24,679 crores. The order  backlog is the value of unexecuted orders on June 30, 2014 plus new orders received after that date.