In a move that further cements its position in the global engineering landscape, Larsen and Toubro Ltd (L&T) has reportedly clinched a colossal deal from Saudi Aramco’s Jafurah unconventional gas development project. This contract, ringing in at a whopping $2.9 billion (around ₹24,000 crore), tasks L&T with crafting a gas processing plant and spearheading the main process units for the venture.
There’s More: But according to a CNBC-TV18 report, that’s not all on L&T’s plate. The company is also in the race for another meaty package, this one valued at $10 billion (₹83,145 crore), for the Safaniyah gas field. Bids for this project have already been tabled.
Rewinding a bit, L&T’s recent achievements include securing substantial EPC (engineering, procurement, and construction) orders in both India and Saudi Arabia through its power transmission and distribution (PT&D) arm.
By the close of FY23, L&T’s order book was bursting at the seams, showcasing a value of ₹399,526 crore, marking a 12% YoY surge.
Price Action: L&T Ltd. shares were trading 0.40% higher at ₹2,741.40, roughly an hour after markets opened for trading on Thursday.
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