L-;T Construction secures power transmission orders in Saudi Arabia; Stock surges 1.5%

31 Oct 2022 , 12:32 PM

The Power Transmission & Distribution business of Larsen & Toubro has secured multiple EPC orders in the current quarter to build Transmission Lines and Substations in the Kingdom of Saudi Arabia.

As per the regulatory filing, the business will undertake engineering, design, procurement and construction of more than 400KM of 380kV Overhead Transmission Lines and a new 230kV Gas Insulated Substation with associated automation and protection systems.

The transmission network strengthening augurs well for providing reliable, safe and efficient electricity supply as Saudi Arabia is embarked on an ambitious National Renewable Energy Program towards attaining optimal generation mix as envisaged in its strategic vision for 2030.

“These repeat orders from the largest electric energy system provider in MENA region demonstrate the core strengths of the business and the customer confidence it has gained over decades of its association in the Kingdom”, the company said.

At around 12:37 PM, Larsen & Toubro Ltd is currently trading at Rs2,006 per share up by Rs31.35 or 1.59% from its previous closing of Rs1,974.65 per share on the BSE.

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