L&T Hydrocarbon Engineering Bags Up To Rs 5,000-Crore Order From ONGC
L&T Hydrocarbon Engineering on Thursday said it has bagged an order worth up to Rs 5,000 crore from Oil & Natural Gas Corp.
The engineering and construction company, however, did not provide the exact value of the contract, but as per its project classification, the value of a large order ranges between Rs 2,500 crore and Rs 5,000 crore.
“L&T Hydrocarbon Engineering Ltd., a wholly-owned subsidiary of Larsen and Toubro, has secured a contract from Oil & Natural Gas Corporation Ltd. for their new living quarter and revamp at NQ Complex' project," L&T said in a regulatory filing.
L&T said the engineering, procurement, construction, installation and commissioning contract is for a new living quarter platform, NQL Platform' of 120 men capacity, bridge (with intermediate support) to existing NQO Complex and major revamping/replacement of existing process systems/facilities at NQ Complex in ONGC's Mumbai High Asset on the West Coast of India.
The contract has been awarded through international competitive bidding on a lump sum turnkey basis, L&T said in a statement.
Subramanian Sarma, Whole-time Director and senior EVP (Energy), L&T and CEO and MD of LTHE said, We have been delivering several large and mega projects for ONGC over the past decade. Our world-class fabrication facilities at Hazira (West Coast) and Kattupalli (East Coast) enable us to maximize the local content, entirely supporting the Government's AatmaNirbhar Bharat Policy.
Shares of L&T were trading 2.15% higher at Rs 1,341.90 apiece on BSE.