L&T bags two new order worth Rs 651 crore
India's largest engineering and construction conglomerate Larsen & Toubro (L&T), has bagged major orders aggregating Rs 651 crore for two hydrocarbon projects.
Under the first order, L&T will build a green field refinery project at Bathinda for HPCL-Mittal Energy Limited (HMEL), valued at Rs 440 crore.
The order involves construction of electro-mechanical sections for seven process units for the Guru Gobind Singh Refinery Project. The project is scheduled to be competed in 17 months.
It should be noted that L&T is already executing a hydrogen package at Bathinda on lumpsum turnkey basis valued at Rs 700 crore.
Further, L&T has picked second order worth Rs 211 crore from Engineers India Limited for the supply and construction of a reactor and regenerator system at Fludized Catalytic Cracking (FCC) unit of Mangalore Refinery and Petrochemicals Limited (MRPL), Mangalore.
The scope of order includes supply and erection of reactor, regenerator and office chamber with structural, refractory lined piping works including painting, insulation & refractory works for FCC unit for Phase III of the refinery project. This project will be completed in 24 months.
Apart from this, L&T will also supply critical process equipment valued at Rs 106 crore for the project.
The company stated in an official communiqué that the HMEL project will be executed by the construction Business unit of L&T's E&C Division, while the MRPL job will be executed jointly by L&T's Heavy Engineering Division and the construction business unit of L&T's E&C Division.
At 11:40 am, the shares of L&T were trading at Rs 1555 on BSE. The counter has made 52-week-high and low of Rs 1800 and Rs 557 respectively.