L&T wins’ order for new gas export pipeline by KOC-Kuwait; stock up 2%

The new strategic gas export pipeline contract has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis, the company said in the filing.

Apr 01, 2019 05:04 IST India Infoline News Service

Larsen and Toubro
Larsen &Toubro Limited (L&T) has won a large order from Kuwait Oil Company (KOC). The new export gas strategic pipeline and its associated facilities will run a span of approximately 145 km.

The new strategic gas export pipeline contract has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis, the company said in the filing.

L&T is currently executing a new 48" Crude Transit Line (CTL) from North Kuwait to Central Mixing Manifold (CMM) located near Ahmadi (Kuwait).

Bagging this order from KOC reflects the confidence of Oil & Gas majors in L&T's capabilities to execute large projects for the Oil and Gas industry globally, the company said.

Larsen & Toubro Ltd is currently trading at Rs1,408.95 up by Rs24.9 or 1.8% from its previous closing of Rs1,384.05 on the BSE.

The scrip opened at Rs1,387 and has touched a high and low of Rs1,423.15 and Rs1,387 respectively.

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