Larsen & Toubro, in partnership with Japan’s Mitsubishi Heavy Industries (MHI), has secured a large order for the development of an Automated People Mover System (APM) at Dubai’s Al Maktoum International Airport. L&T’s large orders are valued between Rs 2,500 to Rs 5,000 crore.
L&T- MHI partnership bags fresh order
The project is being undertaken by L&T’s transportation infrastructure business vertical, and the company will develop an APM system for Phase 1 of the airport in consortium with MHI.
Under the scope of work, L&T and MHI will develop a fully integrated APM System on a turnkey basis. This includes design, construction, supply, testing, commissioning, and operational readiness of all associated infrastructure and systems.
As a part of the design and build contract, L&T will be responsible for the design, procurement, delivery and integration of critical APM infrastructure and systems, including guideways, DC traction substations, power distribution, signalling and telecommunications, onboard communication systems for vehicles, platform screen doors and depot equipment.
“The project, developed by Dubai Aviation City Corporation and being implemented through Dubai Aviation Engineering Projects, is a key component of the airport’s long-term expansion programme designed as a multi-phase development,” L&T said in its regulatory filing.
L&T-MHI: Management Commentary
Commenting on this development, Ramkumar S, Executive Vice President & Head – Transportation Infrastructure, L&T, said: “..This project exemplifies the scale and complexity of integrated APM Rail Systems that L&T is uniquely positioned to deliver. With MHI’s proven APM Systems and L&T’s extensive integrated systems experience supported by world-class Engineering Designs Centre, enables us to execute such projects with a strong focus on safety and quality.”
He added that the Al Maktoum International Airport APM System order win further enhances L&T’s credentials in the region and positions the company to capitalize on emerging opportunities in the railway and transit sector across West Asia.
L&T share price
L&T’s stock was trading flat in intra-day trade on Thursday. Over the past one month, its share price has delivered a return of nearly 6%, while over the past six months its stock has declined by 5%.