Larsen -; Toubro bags ‘Large' order for its Hydrocarbon Business; stock zooms ~2%

23 Jun 2022 , 11:29 AM

A prestigious overseas client has awarded three offshore packages to Larsen & Toubro Energy’s Hydrocarbon division. Engineering, procurement, construction, and installation of various new offshore jacket structures are part of the scope of work. L&T Energy Hydrocarbon (LTEH) has previously executed orders for this client, and repeat business demonstrates L&T’s “Execution Par Excellence” philosophy.

In terms of order book, ‘Large’ orders have an estimated revenue between Rs2,500 crore to Rs5,000 crore for the company.

LTEH is currently executing several domestic and international offshore projects and is committed to increasing its regional presence in the geographies in which it operates by developing local skills and talent, improving procurement from local vendors, and engaging commercially with local contractors on the basis of a sustainable workload.

LTEH, organized into Offshore, Onshore, Construction Services, Modular Fabrication, and Advanced Value Engineering & Technology (AdVENT) verticals, provides integrated design-to-build solutions to domestic and international customers in the hydrocarbon sector.

With more than three decades of experience, the company has set global standards in project management, corporate governance, quality, HSE, and operational excellence.

At around 11.35 AM, Larsen & Toubro was trading at Rs1,507.05 up by Rs28.85 or 1.95% from its previous closing of Rs1,478.20 on the BSE. The scrip opened at Rs1,493.95 and has touched intraday high and low of Rs1,511.25 and Rs1,484.35 respectively.