Monday, 13 November 2017

L&T`s Arm Bags order From ONGC

L&T has said that L&T Hydrocarbon Engineering Limited (LTHE), a wholly - owned subsidiary of the company, has bagged an offshore contract for the Balance Work for Pipeline Replacement Project - 4 from Oil & Natural Gas Corporation (ONGC) valued at approximately Rs 1,267 crores (194 Million USD) . The Contract, won against international competitive bidding, encompasses total ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning for the project.

The project, part of ONGC’s strategy to replace some of its well fluid, gas lift and water injection pipelines along with brownfield modification works on existing platforms in its Mumbai High , Neelam , Heera and Bassein & Satellite Fields which are situated in the Western Offshore field in the Arabian Sea on the continental shelf of Western India.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over USD 17 billion in revenue. Meanwhile, shares of the company were trading at Rs 1222.95 apiece, down 3.25 per cent from the previous close at 10:05 hrs on BSE.

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