L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen & Toubro bagged two orders in the construction services segment - one each from GAIL India and Air Products Middle East Industrial Gases.
Larsen & Toubro's wholly owned subsidiary, L&T Hydrocarbon Engineering received significant order in the construction services segment - one each from GAIL India and Air Products Middle East Industrial Gases. According L&T's classification, the value of the said contracts lies between Rs 1,000 crore to Rs 2,500 crore.The first order is for GAIL India's Mumbai to Nagpur Pipeline under which the company will be responsible for laying steel gas pipeline in section 1 of Part A and construction of terminals along with associated facilities. The pipeline project, due to be laid alongside the upcoming Mumbai - Nagpur super communication expressway, has a schedule of 14 months.
The company's second order comes from Air Products Middle East Industrial Gases LLC for its Industrial Gas Hub (IGH) Network project at Jubail, Saudi Arabia. Under the contract, the company will construct steam methane reformer (SMR) to produce hydrogen, an air separation unit (ASU) to produce oxygen and nitrogen, and hydrogen pressure swing adsorption (PSA) units. The overall duration of the project is 22 months.
Both the contracts were secured by LTHE's construction services business which offers turnkey construction of refinery, petrochemical, chemical and fertilizer projects, gas gathering stations and specializes in oil a gas terminals and field development including storage tanks and underground cavern storage systems for LPG, and cross-country hydrocarbon pipelines.
L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 30 countries worldwide. The EPC major's consolidated net profit soared 141.2% to Rs 1,556.18 crore on a 38% jump in net sales to Rs 29,334.73 crore in Q1 FY22 over Q1 FY21.
Shares of L&T were trading 0.16% higher at Rs 1,706.40 on BSE.
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