L&T bags mega order of over Rs 7,000 crore; stock rises 1.5 per cent
L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro has bagged an order of over Rs 7,000 crore from HPCL Rajasthan Refinery Limited (HRRL).
The engineering, procurement, construction, commissioning (EPCC) contract signed is for setting up a dual-feed cracker unit (DFCU) for Rajasthan Refinery Project at Barmer (Rajasthan). The importance of this contract is such that this DFCU project awarded to the company is the biggest EPCC contract granted in the country till date in the refinery and petrochemical sector.
The plant will be used to convert Refinery Naphtha and off-gases to produce polymer grade Ethylene and Propylene through the process of thermal cracking. Ethylene and Propylene is used as feedstock for downstream Polyethylene and Polypropylene units. The capacity of the plant is expected to be 890 KTPA.
Larsen & Toubro is an Indian multinational engaged in engineering, procurement, and construction (EPC) projects, manufacturing, defence and services with over USD 21 billion in revenues with operation in more than 30 countries worldwide.
The stock reacted positively on Monday during the early trading session and was up by Rs 25, a 1.9 per cent gain over its previous close.