Latest News | L&T Bags Onshore Project from IndianOil Adani Ventures

New Delhi, Feb 5 (PTI) Larsen & Toubro (L&T) on Monday said it has bagged a large onshore project from IndianOil Adani Ventures Ltd.

IndianOil Adani Ventures (formally known as Indian Oiltanking) provides infrastructure-led terminalling services to petroleum, petrochemical and chemical companies.

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"The Hydrocarbon vertical (L&T Energy Hydrocarbon) of Larsen & Toubro (L&T) has recently secured a large onshore project from IndianOil Adani Ventures Ltd," the company said in a filing to BSE.

The scope of work includes engineering, procurement, construction, and commissioning of offsite tankages, bullets and other associated facilities on lump sum turnkey basis.

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As per the company's classification, contracts worth Rs 2,500-5,000 crore are large orders.

IndianOil Adani Ventures Ltd is jointly owned by Indian Oil Corporation (IOC) and Adani Ports and SEZ (APSEZ).

L&T is a USD 23 billion Indian multinational engaged in engineering, procurement and construction (EPC) projects, hi-tech manufacturing and services.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)