L&T wins large order for Hydrocarbon Onshore Business from Petronet LNG

L&T's Hydrocarbon Onshore business vertical (L&T Onshore) has won a large order from Petronet LNG, a joint venture promoted by four leading PSUs, viz., Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOCL), GAIL (India) and Bharat Petroleum Corporation (BPCL).

The project, to be delivered entirely on a Lump Sum Turnkey basis, comprises engineering, procurement, construction and commissioning of a Liquefied Natural Gas (LNG)/Ethane doublewall storage tank with a capacity of 170,000 cubic metres and a Propane double-wall storage tank with a capacity of 140,000 cubic metres at the Dahej Petrochemical Complex in Gujarat. The scope also includes Ethane and Propane handling and despatch facilities to support the Propane Dehydrogenation and Polypropylene plant.

This project is part of India's first petrochemical complex integrating cold energy utilisation from an LNG terminal and is expected to contribute towards bridging the domestic polypropylene demand-supply gap. The project aligns with Government of India's Aatmanirbhar Bharat initiative by strengthening indigenous petrochemical manufacturing capacity.

The order reflects the industry's enduring confidence in L&T's proven ability to deliver projects within stringent timelines, while maintaining an unwavering commitment to excellence, safety and quality.

Commenting on this, Mr Subramanian Sarma, Deputy Managing Director & President - L&T, said: "This order is a significant milestone for us as we contribute to India's first integrated petrochemical complex leveraging LNG cold energy. It aligns with the nation's Aatmanirbhar Bharat vision and strengthens indigenous petrochemical capacity".

Mr E S Sathyanarayanan, Senior Vice President & Head of L&T Onshore and Member of L&T's Executive Committee, said: "Securing this prestigious order from Petronet LNG is a strong endorsement of our proven expertise in executing complex EPCC projects. We are fully committed to completing this project safely, efficiently and within the agreed timelines, while upholding the highest levels of quality".

L&T Onshore is one of India's largest EPC businesses, delivering comprehensive Lump Sum Turnkey solutions across upstream, midstream and downstream hydrocarbon sectors. With a strong execution track record across geographies, it has delivered refinery expansions, petrochemical complexes, gas processing plants, fertiliser plants, LNG terminals and crosscountry pipelines.

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 3855.90 as compared to the previous close of Rs. 3865.50. The total number of shares traded during the day was 49003 in over 4458 trades.

The stock hit an intraday high of Rs. 3914.00 and intraday low of 3850.00. The net turnover during the day was Rs. 190004599.00.

Source : Equity Bulls

Keywords

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