L&T on Thursday said its construction arm has bagged up to Rs 2,500 crore order from Oilfields Supply Company Saudi to design and build an oil and gas supply base.
L&T on Thursday said its construction arm has bagged up to Rs 2,500 crore order from Oilfields Supply Company Saudi to design and build an oil and gas supply base. The company did not provide value of the contracts but said the orders fall under “significant” category which ranges between Rs 1,000 crore and Rs 2,500 crore as per its classification of contracts.
“The buildings and factories business of Larsen & Toubro Construction has secured a significant contract from Oilfields Supply Company Saudi owned by the Dubai based Oilfields Supply Center Ltd to design and build one of the World’s largest oil and gas supply bases at King Salman Energy Park, Dammam, Kingdom of Saudi Arabia ” L&T said in a regulatory filing.
L&T said the project involves constructing industrial facilities of different sizes, an administration building, ancillary buildings, associated infrastructure and storage yards along with civil, structural and architectural works. The project is scheduled to be completed in 30 months.
M V Satish, whole time director and senior executive vice president (buildings), L&T said this project will act as a business incubator to support the oil and gas industry in the Kingdom of Saudi Arabia and help accelerate industrial growth in the energy sector.
“It has strategic significance for L&T too, marking our future growth in such a potential-rich market like the Kingdom of Saudi Arabia,” he added.