Larsen & Toubro’s minerals and metals (M&M) vertical has bagged major orders valued at Rs 5,000–10,000 crore from Steel Authority of India (SAIL) and other clients.
The company has secured major orders for its engineering, procurement and construction (EPC) projects and also bagged orders for its products in the domestic metal sector, it said in an official statement.
#1 L&T: Project Details
L&T said that its partnership with SAIL will play a crucial role in enhancing India’s steel manufacturing sector. “L&T and SAIL share a long-standing relationship spanning several decades, marked by the successful execution of numerous metallurgical projects across India. This partnership continues to play a pivotal role in advancing India’s steel manufacturing ecosystem through innovation, capacity augmentation and sustainable development,” the company said in its regulatory filing.
As a part of SAIL’s capacity expansion plan, the PSU plans to increase the crude steel capacity of the IISCO Steel Plant at Burnpur, West Bengal, to 6.5 MTPA from 2.5 MTPA. Larsen & Toubro’s M&M vertical has been awarded to complete the engineering, procurement and installation package for critical process plants.
Further, the projects include various products which form the core of the new steel complex, including coke oven battery, by-product plant, basic oxygen furnace, and specialised equipment package for material handling.
Commenting on these achievements, DK Sen, Advisor to CMD, Development Projects & Minerals & Metals, L&T, said: “L&T has been a major contributor to India’s industrial growth story in the metals sector, and our association with SAIL is a proud chapter in our journey. These orders underscore L&T’s ability to deliver world-class metallurgical infrastructure with engineering precision, safety and sustainability at the core. We are privileged to contribute to SAIL’s expansion vision, which is vital to strengthening India’s self-reliance in steel production.”
#2 L&T partners SAIL for Jharkhand plant
Also, L&T has been awarded a package to establish a sinter plant at SAIL’s Bokaro Steel Plant (BSL) in Jharkhand. The company added that it will reinforce its presence in the steel industry.
Additionally, L&T’s M&M has bagged multiple orders from its various clients across India for specialised material handling equipment. This also includes stacker reclaimers and wagon tipplers. The company said these order wins add value to its presence in the minerals and metals value chain.
Also commenting on this, L&T’s Senior Vice President and Head, T Kumaresan, added: “The trust placed in L&T by SAIL once again validates our expertise in delivering complex, technology-intensive projects under challenging schedules. These wins reaffirm our commitment to delivering projects on time, demonstrate our technical capabilities and adherence to project timelines. This also brings out our capabilities in end-to-end execution of complex process packages.”
#3 L&T: Share Price
Following these order wins, the company’s share price was up marginally. Over the past one month, the company’s stock has delivered a return of nearly 3%.