L&T’s power business wins big orders
Larsen & Toubro’s power business secured substantial orders from Damodar Valley Corporation (DVC).
These are engineering, procurement and construction (EPC) orders awarded by DVC for setting up Flue Gas Desulphurisation (FGD) systems in three power plants of DVC, namely: Durgapur Steel Thermal Power Station (2 x 500 MW), Mejia Thermal Power Station (2 x 500 MW) and Raghunathpur Thermal Power Station (2 x 600 MW) - in West Bengal. Earlier, the company had received similar from NTPC for the same scope of work.
The Ministry of Environment, Forest and Climate Change has made it compulsory for both existing and upcoming thermal power plants to install FGD systems with the intention of controlling the emissions of harmful SO2. They have set December 2022 as the deadline by which time existing thermal power plants must comply with the revised emission norms.
On Friday, the shares of L&T opened at Rs. 1,445.00, and hit a high and low of Rs. 1,447.35 and Rs. 1,402.00, respectively. The stock closed at Rs. 1,414, down 1.37 per cent on BSE.