In a statement issued on Friday, L&T said it has secured the order along with its joint venture partners Aktor - Greece, Yapi Merkezi Insaat - Turkey, STFA Group - Turkey and Al Jaber Engineering - Qatar. The total value of order for the joint venture is $3.3 billion (around Rs 20,000 crore).
The project is scheduled to be completed in 54 months. The contract includes the design and construction of twin tunnels for an approximate length of 11 kilometre and nine underground metro stations among other works.
Commenting on the order win, S. N. Subrahmanyan, senior executive vice president (infrastructure and construction) L&T said, This order, close on the heels of Riyadh Metro order, has been won in the face of stiff global competition and reflects the growing confidence of clients in L&Ts capability to handle mega projects in the Middle East. L&T's share in the Riyadh metro project works is to the tune of Rs 8,250 crore.
We are very seriously pursuing our programme of internationalisation and such orders go a long way in opening the doors to new geographies and opportunities, he added.
Larsen and Toubro Ltd's share price closed down 1.92% at Rs 1350.80 after touching intra-day high of Rs 1376.55, on Friday, on BSE.