L&T wins mega contracts worth over Rs 7,000 crore for its hydrocarbon business in Middle East
Apr 05, 2023
Mumbai (Maharashtra) [India], April 5 : Larsen and Toubro on Wednesday said its hydrocarbon business (L and T Energy Hydrocarbon or LTEH) recently secured 'mega' multiple offshore contracts worth over Rs 7,000 crore from a client in the Middle East.
The scope of work comprises engineering, procurement, construction (EPC) and installation for various new offshore facilities and integration with existing installations. According to the company, mega project means order worth more than Rs 7,000 crore.
Subramanian Sarma, Whole-Time Director and Senior Executive Vice-President, said, "LTEH offshore has consistently demonstrated timely project delivery deploying end-to-end capabilities, including design, fabrication, and installation of large process platforms, living quarters, subsea systems, piping and other T&I (turnaround and inspection) works."
Sarma also said securing these repeat orders indicated customer satisfaction and is a testimony to customer's faith in the team's dedicated efforts towards developing and nurturing these capabilities.
According to a statement shared with exchanges, the Business 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, and enhancing engagement with local vendors and contractors.
Larsen and Toubro said LTEH offers integrated design-to-build solutions across the hydrocarbon sector globally. Backed by over three decades of rich experience and extensive capabilities across the value chain, the Business has been setting global benchmarks in all aspects of project management, corporate governance, quality, health safety environment (HSE) and operational excellence.
Larsen and Toubro is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services and operates in over 50 countries worldwide.
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.
