Business News | L&T Wins Order Worth Rs 1,000-2,500 Cr for Its Hydrocarbon Business

Mumbai (Maharashtra) [India], April 10 (ANI): Larsen & Toubro on Monday said its hydrocarbon business -- L&T Energy Hydrocarbon or LTEH -- secured an order worth Rs 1,000-Rs 2,500 crore under its Advanced Value Engineering and Technology (AdVENT) business vertical.

The order is for licence plus engineering, procurement and construction (L - EPC) of a technical ammonium nitrate (TAN) plant along with weak nitric acid (WNA) plant at Gadepan, Kota, Rajasthan from Chambal Fertilisers and Chemicals (CFCL), a leading fertiliser company in India, according to a company statement shared with stock exchanges.

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The TAN and WNA plants, having capacities of about 240,000 million tonne per annum (mtpa) and 2,10,000 mtpa, respectively, will be built under a technology licence from CASALE, a privately-owned Swiss Company headquartered in Lugano, Switzerland.

The company said organised under offshore, onshore, construction services, modular fabrication and AdVENT and Asset Management verticals, LTEH offers integrated design-to-build solutions across the hydrocarbon sector to domestic and international customers.

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With over three decades of experience, L&T said the Business has been setting global benchmarks in all aspects of project management, corporate governance, quality, health, safety and environment (HSE) and operational excellence.

The shares of L&T were trading 1.23 per cent up at Rs 2,302.15 apiece at the time of print. In a span of five days, the stock of the engineering and construction firm surged 6.50 per cent or Rs 140.45, according to BSE.

Larsen & Toubro on last Wednesday said its hydrocarbon business, L&T Energy Hydrocarbon or LTEH, recently secured 'mega' multiple offshore contracts worth over Rs 7,000 crore from a client in the Middle East.

According to a statement shared on last Wednesday, the Business is executing several domestic and international offshore projects and is committed to building its regional presence in geographies that it operates in, by nurturing local skills and talent, and enhancing engagement with local vendors and contractors.

According to the statement, mega project means order worth more than Rs 7,000 crore, major project means order worth between Rs 5,000 crore and 7,000 crore, large project means order worth between Rs 2,500 and Rs 5,000 crore while significant project means order worth between Rs 1,000 crore and Rs 2,500 crore.

Larsen and Toubro is an Indian multinational engaged in engineering, procurement and construction (EPC) projects, hi-tech manufacturing and services and operates in over 50 countries worldwide. (ANI)

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