Seamec consortium bags LOA from L&T

Larsen and Toubro Limited (L&T Energy Hydrocarbon Div) has awarded Letter of Award (LOA) no. ONGC/DUDP & PRPVIII/LOA/PIOPL-SL/01- Subsea Installation Works for Daman Upside Development Project (DUDP) & PRPVIII (including MUT scope) Projects of ONGC to the Consortium of SEAMEC Limited and Posh India Offshore Private Limited.

The work under the said LOA will be completed by May - 2026.

The Company has entered into a Subcontract Agreement with M/s. Posh India Offshore Private Limited for carrying out Riser Clamps, Bow String and other installation works in Pipeline Replacement Project VIII (PRP-VIII Gr. B) and Daman Upside Development Project (DUDP) of Oil and Natural Gas Corporation Limited (ONGC) on unit rate basis.

The approximate total value of the subcontract at the maximum indicated quantity of scope of work shall be approximately USD 5.61 million exclusive of GST.

Shares of Seamec Limited was last trading in BSE at Rs. 943.95 as compared to the previous close of Rs. 934.10. The total number of shares traded during the day was 1851 in over 150 trades.

The stock hit an intraday high of Rs. 962.20 and intraday low of 931.95. The net turnover during the day was Rs. 1748044.00.

Source : Equity Bulls

Keywords

Seamec INE497B01018 Shipping PoshIndiaOffshore Consortium LOA LarsenandToubro