L&T arm bags mega deal from Sonatrach-Algeria
L&T Hydrocarbon Engineering Limited (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has won a mega order from Sonatrach-Algeria of approximately Rs. 7,000 crore.
The subsidiary will be engaged in setting up three Central Processing Facilities (CPF) under the Engineering, Procurement, Construction and Commissioning (EPCC) contract. The three facilities are situated close to each other in the Adrar province of Algeria. The project would maximize modularization, which reduces site construction works and achieves standardization across the fields. The contract has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis.
Larsen & Toubro is engaged in technology, engineering, construction, manufacturing and financial services with US$ 18 billion in revenue. It operates in over 30 countries worldwide.
On Tuesday, the stock of L&T opened at Rs. 1,245.95 per share. At 14:13 hours, the shares were trading at Rs. 1,252.20 per share, up by 0.50 per cent. The intraday high was Rs. 1,264 and the intraday low was Rs. 1,243 per share on the BSE. Its 52-week high was Rs. 1,459 and 52-week low was Rs. 1,183 per share on the BSE. Meanwhile Sensex was at 36,320.56, down by 0.20 per cent.