Larsen & Toubro (L&T) has secured two contracts from Dubai’s Roads and Transport Authority (RTA) for the development of the Latifa Bint Hamdan Corridor.
Larsen & Toubro, in its regulatory filing, said that its Transportation Infrastructure business has formally executed the contracts, which include one ‘large’ order worth approximately Rs 2,500–5,000 crore and one ‘significant’ order worth Rs 1,000–2,500 crore. Cumulatively, the orders may be worth up to Rs 7,500 crore.
The projects are aimed at improving road connectivity and traffic movement across key areas of Dubai. Both projects are scheduled to be completed by the end of 2028.
L&T Dubai road projects
Under the first contract, L&T will develop a new road connecting Al Khail Road with the extension of Latifa Bint Hamdan Street. The scope includes the construction of bridges, tunnels and other road infrastructure.
The project will improve connectivity between Al Khail Road, Latifa Bint Hamdan Street and Al Meydan Street. It will also provide better access to development areas located nearby.
Under the second contract, L&T will develop parts of Al Meydan Street. The work includes a new interchange and associated at-grade roads to support upcoming development projects and improve traffic flow in the area.
The project will also include a cycling track that will connect with Dubai’s existing cycling network. This will contribute to an integrated cycling route between Al Qudra and Jumeirah.
Latifa Bint Hamdan Corridor
Once completed, the overall Latifa Bint Hamdan Corridor will stretch around 12 km and connect several key road corridors in Dubai.
These include Sheikh Zayed Road, Al Khail Road, Al Meydan Street, Sheikh Mohammed bin Zayed Road, Sheikh Zayed bin Hamdan Al Nahyan Street and Emirates Road.
The corridor is expected to handle around 16,000 vehicles per hour in both directions and more than 130,000 trips per day.
The project is also expected to significantly reduce travel time. The journey between Umm Al Sheif Street and Emirates Road is expected to fall to around 15 minutes from 33 minutes.
About Larsen & Toubro
Larsen & Toubro is a $32-billion Indian multinational engaged in engineering, procurement and construction (EPC), hi-tech manufacturing, products and services.
The company operates across multiple business sectors and geographies. L&T said its focus on artificial intelligence and technology, customer-centricity and quality has helped it maintain leadership across its major business segments for eight decades.
Larsen & Toubro share price
The share price on Larsen & Toubro is trading flat in the intraday trading session. The stock has increased 7.51% in past six months. On year-to-date (YTD) basis, L&T shares declined 8.99%.