Mumbai: Larsen and Toubro has received a contract worth Rs 693 crore from Indian Oil Corporation (IOC) for providing recovery units for the sulphur plant.

According to the agreement, L&T would supply 300 tons per day sulphur recovery units together with services including amine regeneration unit sour water stripper & tail gas treatment unit for better sulphur recovery up to 99.9%.

This would facilitate IOC in the production of low sulphur clean fuels to meet up regulatory requirements.

The order consists of engineering procurement, residual process design, supply, transportation, storage and others for the said project.

IOCL functions one of its largest refineries situated at Koyali, Gujarat, India. The company aims to set up these Sulphur recovery plants as part of their fuels upgradation project and have awarded the order on EPC basis to L&T.

Toyo Engineering India has been retained by IOCL to supply services for Project Management Consultancy (PMC). Black and Veatch (USA) are the process licensors.

Shares of the company were last trading up Rs 17.55, or 0.58%, at Rs 3,038.00. The total volume of shares traded at the BSE was 7,376.