1. Larsen & Toubro bags Rs 1,070 cr contract in Saudi Arabia

Larsen & Toubro bags Rs 1,070 cr contract in Saudi Arabia

Engineering major Larsen & Toubro today said it has bagged a contract worth Rs 1,070 crore in Saudi Arabia for constructing ballastless tracks for Riyadh metro lines.

By: | Mumbai | Published: September 1, 2015 3:16 PM
Larsen & Tourbo

Engineering major Larsen & Toubro today said it has bagged a contract worth Rs 1,070 crore in Saudi Arabia for constructing ballastless tracks for Riyadh metro lines. (PTI)

Engineering major Larsen & Toubro today said it has bagged a contract worth Rs 1,070 crore in Saudi Arabia for constructing ballastless tracks for Riyadh metro lines.

The contract has been bagged by L&T Construction’s transportation infrastructure business from a consortium of Bechtel, Almabani, CCC and Siemens, to construct ballastless tracks for Riyadh metro 1 and 2 on design and build basis, a statement issued here stated.

The project involves the construction of 62.86 kms of double ballastless tracks in tunnels, viaducts, at-grade sections and three depots.

The project is scheduled to be completed in 40 months.

“This order has been won against stiff international competition and is in sync with L&T’s strategy to expand their railway business into the Middle-East,” the company said.

  1. H
    Harry Potter
    Sep 7, 2015 at 12:50 pm
    Thanks to Modi-Wave, steepest rise in LnT stock in last 5 years is from Rs 722 (Aug 30, 2013) to Rs 1745 (July 4, 2014) apiece, a big cushion (shock aborver) of nearly Rs 1000 per share. L&T top-bres were on selling spree, leading the pack Chairman Mr Naik sold his L&T shares (Rs 1200 apiece) worth 70 crores in 20 days - March 2014. Post Q1-2014 results L&T plunged by 8 %, biggest intraday decline since July 2009. Post Q2 results L&T share plummeted from high of 1673 to low of 1450 (17 Dec, 2014). Post Q3 - 2014 results another big intra-day fall of 7.44 per cent. Post Q1 – 2015 stumbled by 5 per cent in early hours trade, Q1 profit tanked 27 per cent. Average of lows of last 12 years (Jan to Dec, 2004 till 2012) is Rs 622. Average of highs of last 12 years (Jan to Dec, 2004 till 2012) is Rs 1124. Average of lows of last 12 years (Sep 4 as reference day) is Rs 900. G Average of above three numbers is Rs 882 apiece. Some inherent malignancies in businesses – Hydrocarbon and Ship Building losses of Rs 900 cr each, Hyderabad Metro cost overruns Rs 4k crores, Rs5k crores stagnating investment in Defence. Aging CXO-MD potion of septuagenarians, leading the pack 72 yrs old Junior Engineer turned Executive Chairman Mr Naik completed 50 yrs. Where should we expect LnT stack post Q2-2015 results, 5 year low of 386? State owned LIC/UTI are biggest stakeholders at LnT. PM Mr Modi, should intervene to fix retirement age at LnT from SCANDALOUS 75 to 60 - ASAP!
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