Larsen and Toubro’s two business verticals have jointly secured a significant order worth Rs 1,000– 2,500 crore from the Department of Atomic Energy, Government of India, for the establishment of LIGO (Laser Interferometer Gravitational Wave Observatory) in Maharashtra.
Larsen and Toubro: Order key details
L&T’s two business verticals, which are the Heavy Civil Infrastructure (HCI) and Heavy Engineering (HE), have jointly bagged a significant contract ranging between Rs 1,000–Rs 2,500 crore from the Government of India’s Department of Atomic Energy.
As per the company’s regulatory filing, the observatory will be set up in Aundha town in Hingoli district of Maharashtra. The project has a completion deadline of 48 months.
“The initiative will be one of India’s flagship ‘Mega Science’ projects, developed through a collaboration between premier Indian research institutions — including RRCAT and IPR — and the LIGO Laboratory of the United States, with support from Caltech and MIT,” L&T said in its statement.
Larsen and Toubro: Scope of Project
L&T’s project scope covers comprehensive engineering, procurement, and construction of vibration-sensitive specialised high-precision civil infrastructure. It also includes the manufacture and installation of an 8 km ultra-high vacuum-compatible beam tube and key vacuum equipment.
Along with this, the integration of mechanical, electrical, HVAC, fire protection, vacuum control, monitoring systems, and all support utilities is also covered in the project.
The company added that this order will reinforce the company’s track record of delivering complex projects in the field of science and technology.
What is LIGO?
LIGO (Laser Interferometer Gravitational Wave Observatory) is used for the detection of gravitational waves caused by cataclysmic cosmic events through multi-kilometer-scale wave detectors using laser interferometry.
L&T: Share price
The company’s share price was trading in the red today, down nearly 1.6% in the intraday session. Over the past five trading days, the company’s stock has delivered a return of 2%.
Over the past one month, the L&T stock has delivered a return of nearly 15%. Over the past six months, the company’s stock has climbed by 21%, while over the past one year, the company’s stock has delivered a return of over 33%.