L&T wins major contracts for its hydrocarbon business
Mar 21, 2023
Mumbai (Maharashtra) [India], March 21 : Larsen and Toubro on Tuesday said its hydrocarbon business (LTEH) secured multiple offshore packages from an overseas client.
The scope of work comprises engineering, procurement, construction and installation of offshore structures and upgradation of existing facilities, according to a company statement.
According to the statement, a 'major' project means orders worth between Rs 5,000 crore and 7,000 crore.
LTEH is executing several domestic and international offshore projects and is committed to building its regional presence in geographies that it operates in, by nurturing local skills and talent, improving procurement from local vendors and engaging commercially with local contractors on the foundation of a sustainable workload, Larsen and Toubro said.
Larsen and Toubro said LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers. It also said with over three decades of rich experience, the Business has been setting global benchmarks in all facets of project management, governance, quality, health safety environment (HSE) and operational excellence.
Larsen and Toubro is an Indian multinational engaged in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality has enabled L and T to attain and sustain leadership in its major lines of business for eight decades.
According to the statement, mega project means order worth more than Rs 7,000 crore, major project means order worth between Rs 5,000 crore and 7,000 crore, large project means order worth between Rs 2,500 and Rs 5,000 crore while significant project means order worth betwen Rs 1,000 crore and Rs 2,500 crore.
The shares of L and T went up 1.67 per cent to Rs 2,214 apiece on Tuesday morning. In a span of five days, the shares went up 1.43 per cent.
