Wednesday, August 10, 2022

L&T wins order to build one of world’s largest oil & gas supply bases in Saudi Arabia

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  • The classification of the order as ‘significant’ means that the order is worth between Rs 1,000 to 2,500 crore, according to L&T

  • The project is scheduled to be completed in 30 months

Mumbai: Larsen & Toubro (L&T) has secured an order worth between Rs 1,000-2,500 crore from Oilfields Supply Company Saudi for designing and building one of the world’s largest oil and gas supply bases in Saudi Arabia, the company said in a regulatory filing to the stock exchanges on Thursday. “The buildings and factories business of Larsen & Toubro (L&T) Construction has secured a Significant contract from Oilfields Supply Company Saudi owned by the Dubai based Oilfields Supply Centre 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,” said the statement.

The classification of the order as ‘significant’ means that the order is worth between Rs 1,000 to 2,500 crore, according to L&T.

L&T to construct oil & gas supply bases in Saudi Arabia

The project involves constructing industrial facilities of different sizes, an administration building, ancillary buildings, associated infrastructure and storage yards along with Civil, Structural, MEP and Architectural works. The project is scheduled to be completed in 30 months.

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“We thank our client, for reposing confidence in our capability to build a project of such size and scale,” said MV Satish, whole-time Director and Senior Executive Vice President (Buildings), L&T. Elaborating on its significance, he added, “This project will act as a business incubator to support the oil and gas industry in the Kingdom 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.”

L&T is an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services with over USD21 billion in revenue. It operates in over 30 countries worldwide. 

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