L&T bags Rs 5,000 cr export pipeline contract from Kuwait Oil

New Delhi: Infrastructure behemoth Larsen & Toubro Ltd (L&T) announced on Monday that it had bagged a gas export pipeline contract worth between Rs 2,500 and Rs 5,000 crore from Kuwait Oil Company (KOC). In a regulatory statement filed on Monday, L&T said, "The new strategic gas export pipeline contract has been awarded through international competitive bidding on a Lump Sum Turn Key (LSTK) basis."

The company said that the order is a large category order that falls between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts.

The new gas pipeline and its associated facilities are expected to run over a span of around 145 km. The company's shares were trading at Rs 1,410.85, up 1.94 percent in comparison to the previous day on BSE.

One good news after the other

The news comes just days after L&T built and delivered India's heaviest hydrocracker reactor to Hindustan Petroleum Corporation Ltd (HPCL) before schedule. The reactor weighing 1,858 tonnes was manufactured by the company for HPCL's Visakh Refinery Modernisation Project.