L&T JV secures orders worth Rs 550 crore in Oman

Larsen & Toubro Ltd Mumbai has announced that Larsen & Toubro (Oman) LLC, a leading engineering and construction company in Oman, has secured orders valued at USS 120 million (Rs 550 crore) for the construction of multi-storied apartments and villas at Sohar in the Sultanate of Oman.

A prominent business group in the Sultanate is implementing a greenfield township project at Sohar, 300 km from Muscat, to meet the increasing demand for residential properties. L&T Oman has successfully bid for and secured contracts for two packages in the township. The packages are worth US$ 56.5 million (Rs 259 crore) and USS 63.5 million (Rs 291 crore) and are to be completed in 18 months from October 2006.

Larsen & Toubro (Oman), a joint venture of Larsen & Toubro Ltd - India and the Zubair Corporation, has established a strong presence in Oman over the last ten years and is well set to consolidate its position in the years to come.

Source : Equity Bulls

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