PL Engineering, an engineering services outsourcing company with a focus on oil & gas, power and infrastructure, has received a significant minority investment from Fidelity Growth Partners India, the private equity arm of Fidelity International.
In conjunction with the investment, Mr. Raj Dugar, Senior Managing Director of FIL Capital Advisors (India), the private equity advisory company for FGPI, has joined the company’s board of directors.
As stated by Mr. Sanjay Goel, CEO, PL Engineering “This funding will help us expand our business development efforts in North America and the Middle East.
“Given our track record and the strong backing of Punj Lloyd Group and Fidelity, we are confident of scaling up rapidly”.
PL Engineering is a subsidiary of Punj Lloyd Limited, a leading global engineering, procurement and construction conglomerate.
Initially set up to provide high end engineering and design services work for its parent company, over the last few years, the company has extended its service offerings and built up its third party client base, which today includes global companies across North America, Europe, Middle East and India.
PL Engineering provides a full spectrum of design and engineering services in the oil & gas, chemical &petrochemical, power and infrastructure sectors, covering all stages of the product and project life-cycle starting from concept design to commissioning. Services include feasibility studies, front end design, detail design, analysis and stimulation.
The company currently has 800 employees across delivery centers in Gurgaon, Hyderabad and Abu Dhabi working in a global work share environment, enabled by state-of-the-art IT infrastructure.