Larsen & Toubro Ltd (L&T), India’s largest engineering conglomerate, has informed that the company has secured order worth Rs 576 crore from Hindustan Petroleum Corporation Ltd (HPCL).

HPCL has awarded L&T a large project order of 200,000 tonnes per annum Lube Oil Base Stock (LOBS) Plant consisting of Raffinate Hydrotreating Unit (RHT), Mobil Selective Dewaxing Unit (MSDW) & Hydro Finishing Unit (HF).

HPCL, which operates one of its biggest refineries located at Mahul, Mumbai in the state of Maharashtra, intends to set up this LOBS Plant as a part of their Quality Up-gradation project and have awarded the order on Lumpsum Turnkey (LSTK) basis to L&T.

The scope of work for this prestigious order includes Residual Process Design, Detailed Engineering, Procurement, Supply, Transportation, Storage, Fabrication, Inspection, Construction, Installation, Testing, Mechanical Completion, Pre-Commissioning, Commissioning and Performance Guarantee Test Runs for the said Project.

The scrip of the company slipped 4 per cent to Rs 3025 at the close of Monday's trading with over 2,80,000 shares changing hands on the NSE. Indian Stock markets lost quite substantially on Monday due to weak global cues.