L&T secures a large Overseas Order for Water & Effluent Treatment Business

The Water & Effluent Treatment (WET) Business of L&T along with Lantania of Spain has signed a Contract with ACWA Power, a major developer in the Middle East to build the Ras Mohaisen Desalination plant in the Kingdom of Saudi Arabia. WET had won the order in a joint venture with Lantania of Spain, wherein it happens to be the lead partner.

Ras Mohaisen Desalination plant is to have a capacity of 300,000m3/day. The project's scope includes design, procurement, construction, testing and commissioning of a seawater reverse osmosis desalination plant.

It encompasses intake and outfall facilities, process units, pumping stations, 600,000 cubic meters potable water storage facility, electrical special facility and associated works along with state-of-the-art automation and instrumentation systems. A Solar PV plant is also part of the project scope.

The plant will serve as a drinking water source for Makkah Al-Mukarramah and Al-Baha regions, benefiting about one million population.

This is the second desalination order that L&T has received in Saudi Arabia in the recent past and it strengthens WET's presence in the Middle East region. This large order underscores WET's resolve to expand its regional footprint across all neighboring and business-conducive geographies.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 3188.40 as compared to the previous close of Rs. 3193.90. The total number of shares traded during the day was 222818 in over 10799 trades.

The stock hit an intraday high of Rs. 3233.95 and intraday low of 3179.25. The net turnover during the day was Rs. 715209137.00.

Source : Equity Bulls

Keywords

LarsenandToubro INE018A01030 OrderWin Overseas WaterandEffluentTreatment