L&T gains on securing significant contracts for its construction business
Larson & Toubro Ltd, an Indian multinational engaged in EPC projects, hi-tech manufacturing & services, announced this morning that its construction business has secured three contracts from various reputed clients. The cumulative value of these contracts lies within the range of Rs 1,000 to Rs 2,500 crore.
The first contract is for its power transmission and distribution business. The company has won orders to design and construct two 132/11kV substations in Dubai (UAE). The order involves supplying advanced equipment which includes gas-insulated switchgear. The aim of the substations will be to enhance the capacity of the network to cater to the demand growth of the domestic, commercial, and industrial sectors while ensuring the highest standards of reliability, availability, and efficiency of power supply.
The second contract is for its building & factories business. The company has secured another order from a leading cement manufacturer to construct a 3.5 MTPA brownfield cement plant in Nimbahera (Rajasthan). The scope of the project includes civil, mechanical, and equipment erection works.
The third contract is for its transportation infrastructure business. The railways strategic business unit that resides within this business has secured an order from the Central Organisation for Railway Electrification (CORE). This EPC order involves 25 kV overhead electrification, power supply, signalling & telecommunication and other associated works for 383.4 RKM/459 TKM of railway lines in the Northeast Frontier Railway.
At 12.32 pm, the share price of Larson & Toubro Ltd was trading at Rs 1,380.45, which was an increase of 0.42 per cent over its previous day’s closing price of Rs 1,374.65 on BSE.