Larsen & Toubro's (L&T) hydrocarbon business has been awarded an onshore project worth over ₹7,000 crore in the form of a letter of intent, secured from a Middle Eastern client.
What Happened: The project involves the engineering, procurement, and construction of gas compression plants. These facilities will include gas inlet facilities, a gas compression system, produced water handling, a propane refrigeration system, and condensate transfer and utilities. Integration with existing gas compression plants is also part of the contract.
To meet the power supply needs of the gas compression plants, L&T Construction's power transmission and distribution arm will establish three 230 kilovolts extra high voltage substations.
L&T Chairman & Managing Director S N Subrahmanyan said the order was a “matter of pride” for both L&T and India
This new project in the Middle East is expected to further cement L&T's reputation as a top player in the hydrocarbon sector, both domestically and internationally.
Get all the latest Share Market trends and news to set you up for the week ahead.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.