BWI: Simplex Projects Wins Rs. 2,000 Crores Housing Project in Libya

Press release from Business Wire India
Source: Simplex Projects Ltd
Thursday, January 08, 2009 04:25 PM IST (10:55 AM GMT)
Editors: General: Consumer interest; Business: Business services, Construction, Financial Analyst, Real estate, Stock exchanges; Technology
Release no: 18878
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Simplex Projects Wins Rs. 2,000 Crores Housing Project in Libya
Biggest Ever Contract Win for the Company

Kolkota, West Bengal, India, Thursday, January 08, 2009 -- (Business Wire India) -- Simplex Projects Limited, a leading Civil Engineering & Construction Company, today, announced that it has been awarded a contract for development of a housing project in Libya. The project is valued at Rs. 2000 Crores was awarded to Simplex Projects from Govt. of Libya as public works contract. The project includes construction of public building, schools, health centers, mosque, community hall and shopping complex.

The project site is situated 70 KM from Sebha, the renowned city in central Libya. The project comprises construction of 2,000 housing units with an area of 2,500 sq. ft. each and a 72,000 sq. mtr. public building covering an area of 300 hectares. The scope of work for this project also includes construction of complete infrastructure like roads, drainage and sewage systems. The project will be completed in 36 months.

Announcing this contract win, Mr. B. K. Mundhra, Chairman & Managing Director, Simplex Projects Ltd. said, "We are very excited to win this contract and this proves our credentials, core capabilities and strength in infrastructure development. This is also the biggest ever contract win for the company since its inception. We are committed to finishing this project within the stipulated time frame. This contract win also heralds the expansion of our capability footprint globally."

Simplex Projects also has secured major design and build contracts in infrastructure projects like airports, roads and bridges, IT Parks, commercial and residential complex. Simplex Projects has been engaged in virtually all the modern infrastructure projects in India as well as abroad.

The company's focus area of business includes residential buildings; industrial structures; hospitals; universities and educational campuses, transportation engineering like roads, bridges, flyovers & underpasses; irrigation and water supply projects; sewerage projects; commercial and and multi-level car parking.

Simplex Projects' clientele includes some of the major public sectors organizations like NBCC Ltd. BHEL, SBI, Konkan Railway, CPWD, Eastern Railway and major private sector organizations like L & T, DLF, Indian Hotels, Unitech, Godrej, Bengal Ambuja, Wipro, TISCO, Siemens Ltd.

Some of the ongoing civil and structural projects include construction of roads, flyovers and bridges in Patna and New Delhi; building projects for NBCC and New Delhi Municipal Corporation, Sports complex at Gangtok, Sikkim; design and construction of water treatment plant for PWD, Government of Manipur; and major piling and structural work for Delhi Metro, Marriot Hotel Kolkata; foundation work for WBIDC housing complex.

Simplex Projects has recently executed some major turnkey projects like construction of 4 road bridge at Patna; construction of 4 lane over-bridge at Taratala, Kolkata; construction of bridge at Shaktigarh and Palsit; construction of 14 story building for Bengal Ambuja Cement at Kolkata; civil and construction work for a 36 MW power project at Imphal, Manipur; civil and construction work at Bihar Caustic & Chemicals ltd. plant at Garhwa Road.

The company ended its last financial quarter (FY 08-09: Q2 / H1) with a total income of Rs. 722.84 million and a net profit of 49.01 million registering a growth of 32% in income and 9% in net profit over the same period of last financial year.

About Simplex Projects Ltd. (BSE SCRIP ID: 532877, NSE SCRIP ID: SIMPLEX)

Simplex Projects Ltd. is primarily engaged in infrastructure construction and has a strong presence in the North and Eastern India. Incorporated in 1990 as a Public Limited Company, Simplex Projects started commercial operations in 1993. In a decade of its working the company has emerged as a major civil engineering and construction company. It's plant and Equipment resources encompass a very vide spectrum to include state of the art piling and construction equipment like Piling Rings(Driven and Bored), Boring Equipments, batching Plants, Concrete Mixers, Heavy Generator Sets, Construction Lifts, Shuttering, Scaffolding material and many more. Simplex Projects has technical collaboration with International construction giants for advance technique and research facilities in engineering. It also has technical rights to develop various kinds of fully Automatic mechanical Car Parking Systems.


CONTACT DETAILS
Amit Arora, Mutual Public Relations Ltd, +91 9811154140, amit@mutualpr.com
Vikas Mahajan, Mutual Public Relations Ltd, +91 9953619912, vikas@mutualpr.com

KEYWORDS
CONSUMER, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, REAL ESTATE, STOCK EXCHANGES, TECHNOLOGY

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