Home Economy Punj Lloyd to build $282-million resort in Singapore

Punj Lloyd to build $282-million resort in Singapore


Mumbai : A subsidiary of engineering construction firm Punj Lloyd Ltd, Sembawang Engineers and Constructors Ltd (SE&C), has bagged a contract to set up a resort in Singapore from Asia’s leading resorts developer Las Vegas Sands Corp’s affiliate Marina Bay Sands Ltd.

The $282.3-million (400 million Singapore dollars) contract envisages the construction and building of the north podium of Marina Bay Sands’ integrated resort comprising a casino, theatres and retail arcades in Singapore.

According to a communiqué to Bombay Stock Exchange (BSE) Thursday, work on the project will start this month and end April 2009.

In the release, chairman of Punj Lloyd Group, Atul Punj, said: “The project is to build the substructure and superstructure of this mega resort with four upper levels and a four-storey basement.”

“Sembawang is well placed to handle this project as it is also constructing the new Downtown Line Bayfront MRT station in Marina Bay.”

President and CEO of SE&C Alwyn Bowden said the resort is developed by the Las Vegas Sands, which had also constructed The Venetian in Las Vegas and Macau.

The resort will become operational in late 2009. The Marina Bay Sands will feature hotel rooms housed in three towers with a sky park connecting the towers and the financial district, the release said.

“There will also be an international-class casino, restaurants and an art science museum,” the release added.

With this, the order book of Punj Lloyd Group has gone up to Rs.171.32 billion. This is the total value of unexecuted orders as of December 31, 2007 and new orders received till date.