Larsen and Toubro wins orders from ONGC

L&T Hydrocarbon Engineering (LTHE), Larsen & Toubro’s wholly-owned subsidiary, has won a significant order from Oil & Natural Gas Corporation (ONGC) through international competitive bidding.

The Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) contract has been awarded for the development of Cluster-8 marginal field which is part of Mumbai High Asset located about 210 km to the west of Mumbai city. The scope of the project includes Engineering, Procurement, Construction, Installation & Commissioning (EPCIC) of three wellhead platforms, one bridge connected well head cum riser platform, 59 km pipelines, three of clamp-on structure and modification work on two existing platforms.The contract has been awarded through international competitive bidding on a Lumpsum Turn Key (LSTK) basis.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

The shares of L&T on Friday opened at Rs. 1,351.20 as against Thursday’s close of Rs. 1,351 and remained quite volatile through the day. At closing hours, the shares were trading at Rs. 1,338.90, down by 0.98 per cent. The stock hit an intraday high of Rs. 1,364 and an intraday low of Rs. 1,336 per share on the BSE. The 52-week high stood at Rs. 1,459.10 and the 52-week low was Rs 1,183.40 per share on the BSE.