L&T gains post reporting new orders in one of its businesses in Bangladesh
On Wednesday, Larsen & Toubro reported that its power transmission & distribution business has won a slew of transmission line orders in Bangladesh.
The scope of the order involves the design, supply, and installation, testing & commissioning of extra high voltage transmission lines on a turnkey basis. Bangladesh is currently striving to alleviate infrastructure deficiencies and lift up its power system to sustain the growth. The power demand in emerging load centres and Greater Dhaka region needs to be catered, pertaining to which, some projects are lined up including the country's first nuclear power plant.
Bangladesh aims to achieve universal electricity access in the current year and therefore, the enhancement of power transfer capacity will enhance the reliability & efficiency of the country's grid as well as accelerate the development of its capital and the economic growth centres. The projects will also give a boost to the cross-border electricity trade.
L&T is a pioneer in the Indian construction & mining machinery industry. It is engaged in the distribution and support of equipment such as hydraulic excavators, rear dump trucks, crawler dozers, wheel loaders, etc.
L&T's share was trading at Rs 1,387.15 during the second half of the trading session on Wednesday, which is 1.28 per cent up on BSE.