Larsen & Toubro Hydrocarbon led consortium bags $1.6 billion order from Saudi Aramco

By: |
New Delhi | Published: July 21, 2016 1:58:34 PM

Engineering major Larsen & Toubro (L&T) today said L&T Hydrocarbon-led consortium has bagged order worth USD 1.6 billion (Rs 10,757.2 crore) from oil major Saudi Aramco.

larsen & toubroShares of L&T were trading 0.60 per cent lower at Rs 1,561.90 during afternoon trade on BSE.

Engineering major Larsen & Toubro (L&T) today said L&T Hydrocarbon-led consortium has bagged order worth USD 1.6 billion (Rs 10,757.2 crore) from oil major Saudi Aramco.

“L&T Hydrocarbon Engineering (LTHE), a fully-owned subsidiary of Larsen & Toubro, in consortium with EMAS CHIYODHA Subsea (ECS), a 50:50 joint venture company owned by Ezra Holdings Ltd and Chiyoda Corporation has announced the conclusion of a large EPCI contract from Saudi Arabian oil giant Saudi Aramco,” L&T said in a BSE filing.

It further said: “The contract valued at over USD 1.6 billion is for development of second phase of Hasbah Offshore Gas Field situated off the coast of Saudi Arabia. LTHE’s share in the contract is 60 per cent.”

The project is scheduled to be completed over a period of three and half years.

Shares of L&T were trading 0.60 per cent lower at Rs 1,561.90 during afternoon trade on BSE.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.