Punj Lloyd announced the acquisition of Singapore-based semb Corp engineers & constructors (SembE & C).

Punj Lloyd Pte Ltd., Punj Lloyd’s wholly owned subsidiary in Singapore has already acquired 88% stake in SembE & C at a consideration of Singapore $35.2 million.

The company is confident on acquiring the rest 12% stake on or before December 31,’07.

Price water house coopers corporate finance in Singapore came as advisors to Punj Lloyd during the transaction.

The acquisition will add a large number of experienced & qualified engineers to Punj Lloyd’s existing talent pool.

It’s operations will soon spread wings to Europe & China, besides Iran & other SE Asian Markets.

Currently, Punj Lloyd offers engineering construction services in the oil & gas sector for pipelines tanks & terminals, process facilities & in the infrastructure sector for construction of highways & expressways, power plants & high specification buildings besides value-added engineering & plant & facility maintenance.

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