Larsen & Toubro bags contract from Indian Oil Corp for Rs 1100 crore
Larsen & Toubro's wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE) on Saturday, said that it has bagged an onshore EPC contract from state-owned Indian Oil Corporation Limited (IOCL).
In a BSE filing, L&T said, "L&T Hydrocarbon Engineering has bagged an onshore EPC contract from IOC worth around Rs 1100 crore for setting up a 0.740 mmtpa fluidised cracking unit (FCC) including LPG treatment facility at their Bongaigaon Refinery, Assam."
LTHE has won the contract through a competitive bidding process, which also involved participation from many reputed global EPC organisation, added L&t in the statement.
The process licensor for the INDMAX unit is Lummus Technology and for LPG treatment unit the process licensor is Merichem USA.
Further, LTHE also received distinction of executing all INDMAX FCC units including IOCL's Guwahati and Paradip Refinery.
On Friday, shares of Larsen & Toubro closed at Rs 1486.05 per piece on BSE, above Rs 8.80 or 0.60%.