L&T hydrocarbon arm bags large project from IOCL
Larsen & Toubro Limited’s wholly-owned subsidiary L&T Hydrocarbon Engineering Limited (LTHE) has been awarded a large project by Indian Oil Corporation Limited (IOCL). The estimated cost of this project is Rs 2,500-Rs 5,000 crore.
The engineering, procurement, construction & commissioning (EPCC) contract is for setting up a new nine MMTPA atmospheric & vacuum distillation unit (AVU) and allied facilities (EPCC-1 package) for Barauni refinery capacity expansion project at IOCL's Barauni refinery (Bihar). The capacity of Barauni Refinery is being augmented from its current installed capacity of 6.0 to 9.0 MMTPA.
LTHE is already executing a similar EPCC project of 9.0 MMTPA CDU & VDU for HPCL Visakh refinery as a part of Visakh refinery modernisation project (VRMP).
Organised under offshore, onshore, construction services, modular fabrication and engineering services verticals, LTHE delivers 'design to build' engineering and construction solutions across hydrocarbon spectrum.
L&T’s order book as on December 2019 stood at Rs 3,06,300 crore translating book to bill a ratio of 2.2x, considering its FY19 consolidated revenue. Of this order book, hydrocarbon segment contributes 15 per cent.
On Wednesday, in the early morning session, the stock of L&T surged 3.8 per cent to Rs 832 from its previous close of Rs 801.65 on BSE.