LTTS bags multi-year engagement worth US$ 100 million with global O&G major

L&T Technology Services Limited, a leader in global pure-play engineering services, announced on Thursday that it has been selected by a global oil & gas major to be the primary engineering partner.

The company has been chosen to support two of their integrated refining & chemicals manufacturing facilities in the USA, in a multi-year engagement with a potential value of more than US$ 100 million.

Under the five-year engagement, LTTS will provide multi-discipline plant engineering activities including site sustenance, discipline engineering, and control automation support for both the facilities.

The company will leverage its in-house digital engineering tools and new-age technology & solutions to optimise project execution and drive efficiency improvements. The two sites covered under LTTS’ scope are integrated refining, chemical & polymer complexes, and are currently, among the top 10 biggest downstream sites in the US.

Speaking on the announcement, Dr Keshab Panda, CEO & MD of L&T Technology Service stated that the company’s focus on multi-vertical, large engagements with customer intimacy, leveraging digital and new age technologies was yielding the desired outcomes. Besides, the latest instance of a major customer awarding LTTS, a large multi-year program was a testimony to its global plant engineering expertise.

On Thursday, the stock of L&T Technology Services closed at Rs 1,848.25 per share, up by 0.45 per cent or Rs 8.20 per share on BSE, against a 0.31 per cent decline in the benchmark index. The 52-week high was recorded at Rs 1,883.45 and the 52-week low was Rs 995 on BSE.