L&T Hydrocarbon Engineering signs MoU with KBR for Refinery and Petrochemical Projects

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro (L&T), has signed a memorandum of understanding with KBR (NYSE:KBR) to build Modular Process Plants for refinery and petrochemical projects.

Under the terms of the agreement, KBR and LTHE will collaborate to develop business opportunities and LTHE will exclusively bid for KBR's solid acid alkylation technology (K-SAATTM), solvent de-asphalting technology (ROSE®) and catalytic olefins technology (K-COTTM) for global projects with special emphasis on India, South East Asia, Middle East and Africa.

Mr. Subramanian Sarma, MD & CEO of LTHE said, "L&T has a proven track record of over 25 years in the refinery and petrochemical sector. Through this MoU with KBR, LTHE will combine its best-in-class engineering, world class modular fabrication facilities and core strength of project management and construction to offer safe, reliable, and optimized solutions to our customers."

Organized under Offshore, Onshore, Construction Services, Modular Fabrication and AdVENT (Advanced Value Engineering & Technology) verticals, LTHE delivers 'design to build' engineering and construction solutions across the hydrocarbon spectrum.

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.897.65 as compared to the previous close of Rs. 896.6. The total number of shares traded during the day was 193312 in over 9686 trades.

The stock hit an intraday high of Rs. 915.45 and intraday low of 895.3. The net turnover during the day was Rs. 174573199.

Source : Equity Bulls

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