New Delhi: Engineering and construction major Punj Lloyd has bagged three contracts worth Rs.1,873.18 crore ($392 million) from the Housing and Infrastructure Board of Libya, the company said Thursday.

As per the contract, the Indian company will build roads, networks for drinking water, sewage water and storm water and electrical and communication infrastructure in three towns in Libya, the company said in a regulatory statement.

The contract is scheduled for completion within 48 months, it added.

"This is our third infrastructure project in Libya with the same client. We are very proud of our association with the Housing and Infrastructure Board and look forward to playing a key role in building the infrastructure of Libya," Vimal Kaushik, managing director of Punj Lloyd, said in the statement.