L&T group company wins order worth $ 190 million in Oman

Country's largest engineering and construction company, Larsen & Toubro (L&T) announced that its Oman Unit, Larsen & Toubro (Oman) LLC has won  three orders worth over USD 190 million (Rs. 748 crore) from Dhofar Power Company and Muscat Electricity Distribution Company for electrical substations and associated works  and for executing the Muscat Golf Course in Oman.

Larsen & Toubro (Oman) LLC is a joint venture of Larsen & Toubro FZE and the Zubair Corporation and has been in operations for the last 14 years.

The Muscat Golf Course project worth USD 110.37 Mn (Rs 433.5 crore), located near A1 Seeb International Airport includes development of a township which includes 80 luxury villas, 25 three storied apartments and other amenities. The project has to be completed within 21 months, an official release said.

The contract  from Dhofar Power Company is valued at  USD 47.16 million (Rs 186.50 crore) is for strengthening various transmission and distribution systems in Dhofar Region, in order to meet the growth in demand and new loads. It involves construction of new substation, modernization & expansion of existing network and construction of associated overhead lines and cabling works.

While, the Muscat Electricity Distribution Company project worth USD 32.55 million (Rs 128.70 crore) involves for Construction of 5 Nos of 33/11.5 kV primary substations and associated cabling works.

Company said in a release, “These two projects will be executed by Power Transmission & Distribution Sector of L&T Oman and are to be completed in a time span of 7-16 months, under the consultancy of M/s Mott MacDonald & Energoprojekt Entel LLC. Larsen & Toubro (Oman).”

The firm presently holds market cap worth Rs. 1,20,270 crore, PE Ratio of 67.97 ; EPS of 61.70 and BV of  202.65. The firm had showed a net profit of Rs 348 crore for the quarter ended September 2007 as against Rs. 201 crore in same quarter of last year.

The stock closed today at Rs. 4194 on NSE, up by 3% compared with previous close of Rs. 4090. It touched an intraday high of Rs 4233 and low of Rs 4097.