L&T bags mega order in Middle East
The hydrocarbon business (L&T Energy Hydrocarbon - LTEH) of L&T has received a Letter of Intent for mega offshore order from a prestigious client in the Middle East, the company said in a filing to BSE.
Larsen and Tourbo (L&T) on Monday said its hydrocarbon business has bagged a mega order from a client in the Middle East. While L&T did not disclose the exact value of the contract, it counts an order as "mega" when it is valued between Rs 10,000-15,000 crore.
"The hydrocarbon business (L&T Energy Hydrocarbon – LTEH) of L&T has received a Letter of Intent for mega offshore order from a prestigious client in the Middle East," the company said in a filing to BSE.
The scope of work includes the construction and installation of a new large offshore platform and brownfield work of integration with existing facilities. "This mega order from a new customer reaffirms global acknowledgment of our capabilities and marks a key milestone for our offshore business," Subramanian Sarma, Whole-time Director and Senior Executive Vice President (Energy), L&T said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.