L&T arm signs MoU with American firm KBR

L&T today informed the bourses that its arm L&T Hydrocarbon Engineering has signed a memorandum of understanding (MoU) with KBR, an American engineering, procurement, construction (EPC) company.

This MoU has been signed for building modular process plants for refinery and petrochemical projects. Under this MoU, both the companies will develop business opportunities. L&T Hydrocarbon Engineering will completely bid for the technologies of KBR with special focus on India, South East Asia, Africa and Middle East.

As on FY20,L&T’s order book stood at Rs 3,03,900 crore. The company has witnessed an order inflow up by 9 per cent during FY20. Out of the total order book, hydrocarbon segment contributes 15 per cent. Other than hydrocarbon segment, the company’s order book comprises of infrastructure-74 per cent, power-5 per cent, defence-3 per cent and others-3 per cent.

Today, the stock of L&T opened at Rs 909 and gained nearly two per cent and made an intraday high of Rs 915.20 on BSE. At 10.28 am, the stock was trading at Rs 903.60 on BSE.