L&T surges on securing significant contracts from NMDC and DRDO
The cumulative value of these contracts falls within the range of Rs 1,000 to Rs 2,500 crore.
Larsen & Toubro Ltd (L&T), an Indian multinational engaged in engineering, procurement and construction (EPC) Projects, Hi-Tech manufacturing and services, announced today that its construction arm has secured significant contracts for its Metallurgical and Material Handling (MMH) business and Buildings and Factories business in India. The cumulative value of these contracts falls within the range of Rs 1,000 to Rs 2,500 crore.
The company’s Metallurgical and Material Handling (MMH) business has secured an Engineering, Procurement and Construction (EPC) order from NMDC Limited for a Screening Plant (SP-Ill), which will be one of the largest Iron Ore Handling plants built to ensure uninterrupted Iron Ore supply for different customers of NMDC.
The project entails the provision of 12 MTPA Dry Circuit Systems on a turnkey basis at NMDC’s Kirandul Complex in Chhattisgarh. The project scope comprises Tertiary Crushing, 2-stage Screening, Stacking, Reclaiming and Dispatch of Iron ore along with the associated Civil, Structural, E&l and other auxiliary facilities.
Furthermore, the MMH business arm also bagged new orders for its products business in the mining sector as well as added on orders from its existing customers.
The company’s Buildings and Factories business bagged a prestigious order from DRDO, which entails the construction of a Flight Control System Facility for the latter at ADE, Bengaluru. As per the deal, L&T’s Buildings and Factories business arm shall construct a facility measuring 1.2 lakh sq. ft and comprise ground plus six floors. This project shall be executed in an extremely fast track timeline of four months.
At 1.50 pm, the share price of Larsen & Toubro Ltd was trading at Rs 1,931.80, which was an increase of 1.21 per cent from the previous week’s closing price of Rs 1,908.70 on BSE.