L&T secures US$ 177.75 Million Contracts from Hydrocarbon Sector from the Gulf Region

Larsen & Toubro Ltd (L&T) has announced that the Company has recently secured contracts worth USD 177.75 million for different projects in the Hydrocarbon sector in the Gulf region.

The Company's Modular Fabrication Facility (MFF) secured an order from Technip through international bidding for manufacture and supply of 10 No. pre assembled process modules for handling & processing of gas. The order is valued at 44.95 Million USD. These modules will be installed for Abu Dhabi Gas Liquefaction Company Ltd (ADGAS) an Das Island, Abu Dhabi. The delivery of the modules is to be completed in 18 months.

The Company also secured an order for a Naptha Hydrotreater and Reformer unit valued at 51.6 Million USD from ENOC processing Company at Dubai. This project is scheduled to be completed in 16 months time.

In Qatar, the Company secured a contract from the Pearl GTL Project Package C5 - Liquid processing unit (LPU) valued at 36.4 Million USD from Qatar Petroleum / Shell joint venture Company. Time frame for completion of this project is 29 months.

The Company has been successful in winning a 44.8 Million USD contract from Oil Tanking Company in Oman.

All the above contracts have been bagged against stiff international competition and competitive price bidding.

Source : Equity Bulls

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