L-;T Construction secures mega contract for minerals and metal business; stock adds ~1.5%

7 Dec 2022 , 12:13 PM

Larsen & Toubro Construction’s Minerals & Metals (M&M) Business received several orders from ArcelorMittal Nippon Steel India (AM/NS India), a joint venture between the two global steel giants, to carry out their expansion plans in Gujarat and Odisha.

The order consists of various packages that include the installation of two blast furnaces with 3.5 MTPA capacity each at their Hazira Plant in Gujarat on an EPC basis. The scope of work includes, among other things, associated supplies, construction, and installation of both units – Blast Furnaces 2 and 3 – concurrently in a phased completion.

M&M will install a Steel Melt Shop with a capacity of 6 MTPA in the same complex, complete with detailed design and engineering for the entire plant, supply of identified items, and complete construction.

The scope includes plant layout, concurrent installation of steel making, secondary metallurgy, and slab casting units within the agreed-upon schedule.

Construction of a 6 MTPA ore beneficiation plant in Sagasahi, Odisha, is also included in the order.

The Minerals & Metals (M&M) Business provides turnkey EPC solutions for the Mining, Minerals, and Metals sectors worldwide.

As per the details disclosed by the company, mega order involves revenue of over Rs7,000 crore.

At around 12.17 PM, Larsen & Toubro was trading at Rs2,124 apiece, up by 1.44% from its previous closing of Rs2,093.85 on the BSE. The scrip touched intraday high and low of Rs2,143.45 and Rs2,084.05 respectively. 

For feedback and suggestions, write to us at [e-mail]