Larsen & Toubro has marked a major achievement as its Hydrocarbon Onshore business (L&T Energy Hydrocarbon Onshore) secures an ultra mega order valued at over ₹15,000 crore in the Middle East.
Expanding Presence in the Hydrocarbon Sector
L&T Energy Hydrocarbon Onshore, a core division of Larsen & Toubro, has secured an ultra mega project to establish a Natural Gas Liquids plant and associated facilities. With a contract value exceeding ₹15,000 crore.
L&T Energy Hydrocarbon Onshore is one of India’s largest EPC players, offering Lump Sum Turnkey solutions across upstream, midstream and downstream segments. The business has a proven record in executing refinery expansions, petrochemical complexes, LNG terminals, fertiliser plants and cross-country pipelines. This contract further consolidates L&T’s standing as a leader in energy project execution.
Partnership with Consolidated Contractors Group
The order has been awarded to a consortium comprising L&T and Greece-based Consolidated Contractors Group S.A.L. (CCC). L&T will lead the engineering and procurement functions, while CCC will focus on construction activities.
Scope of Work and Project Details
The scope of work encompasses engineering, procurement, construction, installation and commissioning of a Natural Gas Liquids plant and allied facilities for processing Rich Associated Gas (RAG). This also involves all associated utilities and offsite and integration with existing facilities.
The RAG sourced from offshore and onshore oil fields will be treated at the plant to remove impurities like H2S, CO2 and H2O, producing value-added products such as lean sales gas, ethane, propane, butane and hydrocarbon condensate.
On Thursday, Larsen & Toubro share price jumped over 1% as the company secured an order worth ₹15,000 crore. As of 11:54 am, the stock price was trading at ₹3,777.70 per share, up by 1.28%, with the last 3 days closing in the positive territory. The stock is trading only 4.8% below its 52-week high of ₹3,796.40 per share.
On a year-to-date basis, the stock price is up by nearly 5% while in the last 5 years the stock has gained over 315%.
